Japan Capex for Q2: -11.3% y/y (vs. expected -4.0%)

Capital spending misses the median estimate at -11.3% y/y

• expected -4.0% y/y, prior 0.1%

Capital spending excl. software -10.4% y/y

• expected -4.0% y/y, prior -1.4%

Company profits -46.6% y/y

• prior +28.4% y/y

Company sales -17.7% y/y

• -7.5% y/y

COVID-19 response economic impacts slammed capex, sales, profits.