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Business Outlook Survey

(April-June 2022)

June.13, 2022

1. Business conditions

Business survey index

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

 
(%points)
   Jan.-Mar.
2022
(previous)
 Apr.-Jun.
2022
(present)
 Jul.-Sep.
2022
(outlook)
 Oct.-Dec.
2022
(outlook)
Corporations with capital of 1 billion yen or over
  All industries -7.5 -0.9 6.3 6.4
Manufacturing -7.6 -9.9 8.2 8.2
Non-manufacturing -7.4 3.4 5.5 5.6
Corporations with capital of 100 million to 1 billion yen
  All industries -9.6 -2.1 6.2 8.1
Corporations with capital of 10 to 100 million yen
  All industries -26.2 -14.8 -3.3 -1.7

2. Domestic economic conditions

Business survey index

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

 
(%points)
   Jan.-Mar.
2022
(previous)
 Apr.-Jun.
2022
(present)
 Jul.-Sep.
2022
(outlook)
 Oct.-Dec.
2022
(outlook)
Corporations with capital of 1 billion yen or over
  All industries -16.3 0.4 3.4 4.4
Manufacturing -10.5 -5.6 3.0 4.8
Non-manufacturing -19.1 3.2 3.6 4.2
Corporations with capital of 100 million to 1 billion yen
  All industries -22.5 -5.2 -2.0 4.3
Corporations with capital of 10 to 100 million yen
  All industries -36.6 -18.4 -15.8 -7.4

3. Employment

Business survey index

(Difference of "insufficient"-"excessive")

 
(%points)
  End of Mar.
2022
(previous)
End of Jun.
2022
(present)
End of Sep.
2022
(outlook)
End of Dec.
2022
(outlook)
Corporations with capital of 1 billion yen or over
  All industries 17.1 15.8 13.2 12.0
Manufacturing 14.7 11.2 9.9 8.1
Non-manufacturing 18.3 18.0 14.7 13.8
Corporations with capital of 100 million to 1 billion yen
  All industries 27.9 31.1 27.3 25.1
Corporations with capital of 10 to 100 million yen
  All industries 20.5 23.8 21.3 20.6

4. Sales (compared with the previous year)

 
(%)
  FY 2022
All industries 4.3
Manufacturing 7.6
Non-manufacturing 3.0

5. Ordinary profits (compared with the previous year)

 
(%)
  FY 2022
All industries -0.6
Manufacturing -2.4
Non-manufacturing 0.2

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

 
(%)
  FY 2022
All industries 16.0
Manufacturing 26.4
Non-manufacturing 11.2

Note: Excludes expense purchasing land.

 

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Ministry of Finance, Policy Research Institute.