© Reuters. FILE PHOTO: Nissan Motor Co., Ltd's Universal Powertrain Mounting System with a two-layer pallet structure, compatible with EV, e-POWER and gasoline vehicles is pictured in Kawachi-gun, in Tochigi prefecture, Japan October 8, 2021. REUTERS/Maki Shira
Companies also retained their robust spending plans and faced a tight labour market, the survey showed, suggesting that conditions for the Bank of Japan to phase out its massive stimulus could fall into place. "The stronger-than-expected improvement in the latest tankan survey suggests that the economy will continue to expand at an above-trend pace, which is contributing to mounting staff shortages and persistent price pressures," said Marcel Thieliant, head of Asia-Pacific at Capital Economics.
Big firms expect to increase capital expenditure by 13.6% in the current fiscal year ending in March 2024, matching market estimates, after a 11.7% rise in fiscal 2022, the tankan showed. "The tankan showed Japan is on track for a domestic-demand led growth. But the overseas outlook is a source of concern, such as whether the U.S. economy can achieve a soft landing" said Yoshimasa Maruyama, chief market economist at SMBC Nikko Securities.
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