The data from earlier in the session is here: Japan data - capex and profits for Q1 2021
A Japanese finance ministry official said on the business spending data that some firms were seen putting off unnecessary investments in favor of holding onto cash.
Echoed by:
- "Non-manufacturers have likely been building up cash positions rather than committing to spending for reinforcing safety, pushing back their capital expenditure plans beyond the fiscal year-end," said Takeshi Minami, chief economist at Norinchukin Research Institute.
There is more at Reuters recap of the data if you are interested.
