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Policy Research Institute

 

Business Outlook Survey 

(January-March 2013)

 Mar. 12, 2013

1. Business conditions

Business survey index
(Difference of "up"-"down" compared with previous quarter)

(%points)

 

 Oct.-Dec.
2012
(previous)

 Jan.-Mar.
2013
(present)

 Apr.-Jun.
2013
(outlook)

 Jul.-Sep.
2013
(outlook)

Corporations with capital of 1 billion yen or over
  All industries -5.5 1.0 3.8 9.0
 Manufacturing -10.3 -4.6 3.6 10.1
 Non-manufacturing -2.9 4.0 3.9 8.4
Corporations with capital of 100 million to 1 billion yen
  All industries -9.9 -7.5 0.5 7.8
 Manufacturing -15.2 -20.6 -1.6 8.6
 Non-manufacturing -8.3 -3.6 1.2 7.6
Corporations with capital of 10 to 100 million yen
  All industries -17.0 -18.0 -2.9 -0.5
 Manufacturing -21.4 -28.4 -3.9 2.3
 Non-manufacturing -16.2 -15.8 -2.7 -1.0

 

2. Domestic economic conditions

Business survey index
(Difference of "up"-"down" compared with previous quarter)

(%points)

 

 Oct.-Dec.
2012
(previous)

 Jan.-Mar.
2013
(present)

 Apr.-Jun.
2013
(outlook)

 Jul.-Sep.
2013
(outlook)

Corporations with capital of 1 billion yen or over
  All industries -18.7 17.9 15.8 12.2
 Manufacturing -20.8 11.3 13.8 11.6
 Non-manufacturing -17.6 21.5 16.9 12.6
Corporations with capital of 100 million to 1 billion yen
  All industries -23.9 9.6 14.8 12.8
 Manufacturing -27.8 -1.0 11.1 14.7
 Non-manufacturing -22.8 12.8 15.9 12.3
Corporations with capital of 10 to 100 million yen
  All industries -32.1 -2.7 9.2 8.6
 Manufacturing -38.4 -10.0 4.9 7.7
 Non-manufacturing -30.9 -1.2 10.1 8.8

 

3. Employment

Business survey index
(Difference of "insufficient"-"excessive" )

(%points)

 

End of Dec.
2012
(previous)

End of Mar.
2013
(present)

End of Jun.
2013
(outlook)

End of Sep.
2013
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 2.0 4.0 0.8 2.5
 Manufacturing -6.9 -5.8 -5.4 -1.4
 Non-manufacturing 6.8 9.3 4.1 4.7
Corporations with capital of 100 million to 1 billion yen
  All industries 10.2 11.8 5.2 6.7
 Manufacturing -3.1 -0.4 -3.3 0.0
 Non-manufacturing 14.2 15.5 7.8 8.7
Corporations with capital of 10 to 100 million yen
  All industries 10.3 10.5 4.6 4.4
 Manufacturing 2.5 -0.1 -0.2 -0.5
 Non-manufacturing 11.9 12.7 5.6 5.4

 

4. Sales (compared with the previous year)

(%)

 

  FY 2012

  1st half

   FY 2012

  2nd half

   FY 2012

  FY 2013

  1st half

   FY 2013

  2nd half

   FY 2013

All industries 0.9 2.2 -0.4 1.6 1.1 2.1
 Manufacturing -1.2 1.5 -3.7 3.0 2.0 4.0
 Non-manufacturing 1.7 2.5 0.9 1.1 0.8 1.4

          

   

5. Ordinary profits (compared with the previous year)

(%)

 

  FY 2012

  1st half

   FY 2012

  2nd half

   FY 2012

  FY 2013

  1st half

   FY 2013

  2nd half

   FY 2013

All industries 1.8 7.3 -3.2 6.8 3.0 10.3
 Manufacturing 0.9 -0.9 2.6 17.0 14.7 18.9
 Non-manufacturing 2.1 10.9 -5.6 3.1 -0.8 7.0

          

   

6. Software and investment in plant and equipment (compared with the previous year)

(%)

 

  FY 2012

  1st half

   FY 2012

  2nd half

   FY 2012

  FY 2013

  1st half

   FY 2013

  2nd half

   FY 2013

All industries 3.3 6.4 1.0 -6.5 5.2 -16.9
 Manufacturing 2.7 3.0 2.4 -2.8 8.0 -12.4
 Non-manufacturing 3.7 8.3 0.3 -8.8 3.6 -19.7
Note:  Excludes expense purchasing land.