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Policy Research Institute

 

Business Outlook Survey 

(April-June 2012)

 Jun. 11, 2012

1. Business conditions

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

(%points)

 

 Jan.-Mar.
2012
(previous)

 Apr.-Jun.
2012
(present)

 Jul.-Sep.
2012
(outlook)

 Oct.-Dec.
2012
(outlook)

Corporations with capital of 1 billion yen or over
  All industries -2.7 -3.1 8.8 8.8
 Manufacturing -7.3 -5.7 11.4 13.2
 Non-manufacturing -0.1 -1.6 7.5 6.5
Corporations with capital of 100 million to 1 billion yen
  All industries -10.1 -7.2 5.7 8.1
 Manufacturing -17.3 -12.9 6.1 12.3
 Non-manufacturing -7.9 -5.5 5.6 6.8
Corporations with capital of 10 to 100 million yen
  All industries -20.8 -20.0 -10.3 -5.0
 Manufacturing -21.3 -26.0 -9.7 -1.6
 Non-manufacturing -20.7 -18.8 -10.4 -5.7

 

2. Domestic economic conditions

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

(%points)

 

 Jan.-Mar.
2012
(previous)

 Apr.-Jun.
2012
(present)

 Jul.-Sep.
2012
(outlook)

 Oct.-Dec.
2012
(outlook)

Corporations with capital of 1 billion yen or over
  All industries -3.4 0.7 4.4 7.2
 Manufacturing -6.3 -1.7 5.6 9.4
 Non-manufacturing -1.9 1.9 3.7 6.0
Corporations with capital of 100 million to 1 billion yen
  All industries -14.4 -3.4 0.2 4.6
 Manufacturing -15.5 -7.8 -1.7 6.3
 Non-manufacturing -14.1 -2.1 0.7 4.1
Corporations with capital of 10 to 100 million yen
  All industries -30.9 -21.7 -17.6 -10.2
 Manufacturing -27.2 -27.2 -18.7 -3.2
 Non-manufacturing -31.6 -20.5 -17.3 -11.6

 

3. Employment

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

(%points)

 

End of Mar.
2012
(previous)

End of Jun.
2012
(present)

End of Sep.
2012
(outlook)

End of Dec.
2012
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 2.5 0.4 1.1 2.1
 Manufacturing -5.0 -5.5 -3.4 -1.6
 Non-manufacturing 6.5 3.6 3.6 4.0
Corporations with capital of 100 million to 1 billion yen
  All industries 8.1 8.0 6.5 7.7
 Manufacturing -1.8 -1.6 -0.1 2.3
 Non-manufacturing 11.1 10.9 8.5 9.4
Corporations with capital of 10 to 100 million yen
  All industries 5.9 5.6 4.8 6.5
 Manufacturing 4.3 -1.5 -0.5 2.9
 Non-manufacturing 6.2 7.0 5.9 7.2

 

4. Sales (compared with the previous year)

(%)

 

  FY 2012

  1st half

   FY 2012

  2nd half

   FY 2012

All industries 2.9 3.5 2.4
 Manufacturing 3.1 3.4 2.9
 Non-manufacturing 2.9 3.6 2.2

          

   

5. Ordinary profits (compared with the previous year)

(%)

 

  FY 2012

  1st half

   FY 2012

  2nd half

   FY 2012

All industries 6.5 5.8 7.1
 Manufacturing 5.7 -2.8 13.1
 Non-manufacturing 6.9 9.7 4.4

          

   

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

(%)

 

  FY 2012

  1st half

   FY 2012

  2nd half

   FY 2012

All industries 8.4 24.8 -3.9
 Manufacturing 9.8 27.7 -4.9
 Non-manufacturing 7.5 22.8 -3.2
Note:  Excludes expense purchasing land.