Reuters highlight results from their Corporate Survey:

  • 52 pct of Japan firms to keep capex plan steady next fiscal year, 22 pct to expand, 14 pct to increase moderately, 12 pct to cut
  • 42 pct plan to hike base pay this year, of which 75 pct to raise by as much as last year
  • 41 pct expect profit to fall next FY due to trade friction, protectionism; 38 pct expect sales decline; a quarter to review supply chain


"We are being affected by U.S.-China trade friction, so we are curbing capital investment until the outlook becomes clear," a manager of a machinery maker

"Uncertainty about the global economy as a whole is causing some Japanese firms to hesitate to make active investments," wrote a manager at another machinery firm


USD/JPY is ticking just a few points higher as I update, its just gone past 8.15am in Tokyo and activity should pick up