Tankan Index Reveals Japan’s Corporate Sentiment Steady for Three Months
The business sentiments are getting steady in Japan at least that's what has been reflected in the past three months till December. It was discovered by a closely-watched survey by the central bank which offered a dash of relief to the policymakers who are anxious about uncertainties globally which could weaken corporate spending.
On Monday, the "tankan" survey quarterly done by the Bank of Japan revealed that most of the big companies carried on their optimistic capital expenditure plans for the fiscal year till March 2016. Its surely a bright spot in the slow moving economy for which premier Shinzo Abe has been making efforts to nudge businesses to invest more of their record profits. A BOJ official said, "Some manufacturers may have delayed capital expenditure plans reflecting the slowdown in China and other emerging economies. But overall, companies are maintaining their bullish spending plans."
However, the survey will undergo close scrutiny by the central bank's policymakers who are scheduled to meet for a two-day rate review that ends on Friday. They are likely to postpone expanding the bank's huge stimulus program.
According to the BOJ it will stay put on the policy until there is a massive slowdown in emerging markets which affects Japanese corporate profits discouraging big businesses from increasing wages as well as capital expenditure.
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