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Japanese manufacturers' confidence improves: BoJ poll

Published on Apr 1, 2013 9:10 AM
 
A worker walks at a factory in Urayasu, near Tokyo on March 29, 2013. Confidence among large Japanese manufacturers improved in the first quarter, a Bank of Japan (BoJ) survey showed on Monday, offering up cautious optimism from the country's top firms. -- PHOTO: REUTERS

TOKYO (AFP) - Confidence among large Japanese manufacturers improved in the first quarter, a Bank of Japan (BoJ) survey showed on Monday, offering up cautious optimism from the country's top firms.

The results marked the first improvement in three quarters with companies expecting a pick-up in sales and profits. But they were cautious in their capital spending plans and the figures remained in negative territory, meaning a majority of surveyed firms are pessimistic about the future.

"Sentiment is getting better broadly, but the improvement isn't as strong as expected," Mr Hideki Matsumura, senior economist at Japan Research Institute, told Dow Jones Newswires.

"Exports need to increase and push up capital investment. Although domestic demand appears solid, the rest will depend on how quickly external demand recovers."

 
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