Business Outlook Survey
(July-September 2026)
September 11, 2026
1. Business conditions
Business survey index
(Difference of "up"-"down" compared with the previous quarter)
| (%points) | |||||
|
Apr.-Jun. 2026 (previous) |
Jul.-Sep. 2026 (present) |
Oct.-Dec. 2026 (outlook) |
Jan.-Mar. 2027 (outlook) |
||
|---|---|---|---|---|---|
| Corporations with capital of 1 billion yen or over | |||||
| All industries | -0.5 | 5.3 | 6.0 | 4.6 | |
| Manufacturing | -1.8 | 7.6 | 5.8 | 4.9 | |
| Non-manufacturing | 0.0 | 4.2 | 6.1 | 4.5 | |
| Corporations with capital of 100 million to 1 billion yen | |||||
| All industries | -3.9 | 0.8 | 5.0 | 2.7 | |
| Corporations with capital of 10 to 100 million yen | |||||
| All industries | -17.6 | -10.9 | -2.8 | -6.4 | |
2. Domestic economic conditions
Business survey index
(Difference of "up"-"down" compared with the previous quarter)
| (%points) | |||||
|
Apr.-Jun. 2026 (previous) |
Jul.-Sep. 2026 (present) |
Oct.-Dec. 2026 (outlook) |
Jan.-Mar. 2027 (outlook) |
||
|---|---|---|---|---|---|
| Corporations with capital of 1 billion yen or over | |||||
| All industries | -4.5 | 2.9 | 2.4 | 1.8 | |
| Manufacturing | -6.4 | 3.8 | 2.0 | 0.2 | |
| Non-manufacturing | -3.6 | 2.5 | 2.6 | 2.6 | |
| Corporations with capital of 100 million to 1 billion yen | |||||
| All industries | -14.3 | -4.3 | -0.7 | -2.0 | |
| Corporations with capital of 10 to 100 million yen | |||||
| All industries | -28.2 | -19.2 | -13.6 | -13.8 | |
3. Employment
Business survey index
(Difference of "insufficient"-"excessive")
| (%points) | |||||
|
End of Jun. 2026 (previous) |
End of Sep. 2026 (present) |
End of Dec. 2026 (outlook) |
End of Mar. 2027 (outlook) |
||
|---|---|---|---|---|---|
| Corporations with capital of 1 billion yen or over | |||||
| All industries | 25.7 | 26.7 | 23.2 | 21.6 | |
| Manufacturing | 21.3 | 22.8 | 20.6 | 17.8 | |
| Non-manufacturing | 27.8 | 28.5 | 24.4 | 23.3 | |
| Corporations with capital of 100 million to 1 billion yen | |||||
| All industries | 34.5 | 34.3 | 31.2 | 28.4 | |
| Corporations with capital of 10 to 100 million yen | |||||
| All industries | 27.6 | 27.8 | 26.9 | 25.1 | |
4. Sales (compared with the previous year)
| (%) | ||||||
| FY 2026 | ||||||
|---|---|---|---|---|---|---|
| All industries | 4.1 | |||||
| Manufacturing | 5.7 | |||||
| Non-manufacturing | 3.5 | |||||
5. Ordinary profits (compared with the previous year)
| (%) | ||||||
| FY 2026 | ||||||
|---|---|---|---|---|---|---|
| All industries | 2.3 | |||||
| Manufacturing | 5.8 | |||||
| Non-manufacturing | 1.0 | |||||
6. Software and investment in plant and equipment (compared with the previous year)
| (%) | ||||||
| FY 2026 | ||||||
|---|---|---|---|---|---|---|
| All industries | 11.0 | |||||
| Manufacturing | 12.7 | |||||
| Non-manufacturing | 10.2 | |||||
Note: Excludes expense purchasing land.
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