Reuters Tankan is monthly, it serves as a heads up for the quarterly Bank of Japan Tankan survey

  • June manufacturers' sentiment index +26 vs +22 in May
  • Service-sector index +35 in June vs record high of +39 in May

Manufacturers' mood seen up ahead, service-sector unchanged

  • September manufacturing index seen at 30, non-man at 35

More detail (via Reuters)

  • suggesting some fragility in the outlook after a first-quarter contraction
  • indicating the BOJ's tankan due next on July 2 will likely show business confidence as largely steady
  • mixed result
  • some reservations about the health of the economy at a time when U.S. President Donald Trump's "America First" policy raises fears of protectionism and global trade war, clouding the outlook for export-reliant Japan
  • "Appetite for capital expenditure at our clients is waning in light of increasingly protectionist policies in America and China, as well as political instability in southern Europe," a manager of a machinery maker wrote in the survey
  • managers complained about weak consumer spending, rises in oil and raw materials costs, an uncertain global outlook and labour shortages

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Reuters poll of 539 large- and mid-sized companies, in which 240 firms responded on condition of anonymity