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Policy Research Institute

 

Business Outlook Survey 

(October-December 2012)

 Dec. 10, 2012

1. Business conditions

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

(%points)

 

 Jul.-Sep.
2012
(previous)

 Oct.-Dec.
2012
(present)

 Jan.-Mar.
2013
(outlook)

 Apr.-Jun.
2013
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 2.2 -5.5 1.7 0.4
 Manufacturing 2.5 -10.3 1.4 1.2
 Non-manufacturing 2.0 -2.9 1.8 0.0
Corporations with capital of 100 million to 1 billion yen
  All industries -3.4 -9.9 -5.6 -2.7
 Manufacturing -6.6 -15.2 -7.5 -3.1
 Non-manufacturing -2.5 -8.3 -5.1 -2.6
Corporations with capital of 10 to 100 million yen
  All industries -19.8 -17.0 -16.1 -8.7
 Manufacturing -21.9 -21.4 -21.1 -6.4
 Non-manufacturing -19.4 -16.2 -15.1 -9.2

 

2. Domestic economic conditions

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

(%points)

 

 Jul.-Sep.
2012
(previous)

 Oct.-Dec.
2012
(present)

 Jan.-Mar.
2013
(outlook)

 Apr.-Jun.
2013
(outlook)

Corporations with capital of 1 billion yen or over
  All industries -1.0 -18.7 -4.6 0.8
 Manufacturing 0.0 -20.8 -6.4 1.2
 Non-manufacturing -1.5 -17.6 -3.6 0.6
Corporations with capital of 100 million to 1 billion yen
  All industries -7.2 -23.9 -14.8 -5.0
 Manufacturing -10.0 -27.8 -15.7 -6.1
 Non-manufacturing -6.4 -22.8 -14.5 -4.7
Corporations with capital of 10 to 100 million yen
  All industries -21.6 -32.1 -26.6 -14.9
 Manufacturing -23.9 -38.4 -34.0 -14.7
 Non-manufacturing -21.1 -30.9 -25.1 -14.9

 

3. Employment

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

(%points)

 

End of Sep.
2012
(previous)

End of Dec.
2012
(present)

End of Mar.
2013
(outlook)

End of Jun.
2013
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 1.3 2.0 2.2 0.4
 Manufacturing -5.6 -6.9 -4.6 -3.1
 Non-manufacturing 5.0 6.8 5.8 2.4
Corporations with capital of 100 million to 1 billion yen
  All industries 10.9 10.2 7.2 4.6
 Manufacturing 2.3 -3.1 -4.7 0.4
 Non-manufacturing 13.4 14.2 10.8 5.9
Corporations with capital of 10 to 100 million yen
  All industries 7.8 10.3 6.1 3.7
 Manufacturing 1.0 2.5 -2.2 -0.8
 Non-manufacturing 9.2 11.9 7.8 4.6

 

4. Sales (compared with the previous year)

(%)

 

  FY 2012

  1st half

   FY 2012

  2nd half

   FY 2012

All industries 1.2 2.4 0.2
 Manufacturing -0.2 1.8 -1.9
 Non-manufacturing 1.8 2.6 1.1

          

   

5. Ordinary profits (compared with the previous year)

(%)

 

  FY 2012

  1st half

   FY 2012

  2nd half

   FY 2012

All industries 1.3 8.1 -4.7
 Manufacturing -2.3 -1.6 -2.9
 Non-manufacturing 2.8 12.6 -5.4

          

   

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 4.1 8.0 1.3
 Manufacturing 6.3 5.4 7.1
 Non-manufacturing 2.8 9.6 -2.0
Note:  Excludes expense purchasing land.