• Big Manufacturers +5 against Reuters expectation +3
  • Big Non-Manufacturers +1 against a flat expectation
  • Japanese Big Firms see Capex growth for 2010/2011 at 2.9% ( Reuters Poll 2.7%)
  • Small Firms see Capex growth at -8.3% ( cf poll -10%)

The average USD/JPY seen by Big Manufacturers for the FY 2010/11 is 86.47 vs September survey – 89.66