The Reuters Tankan monthly poll is intended to track the quarterly Bank of Japan tankan survey.

The results for May 2022 have been published.

  • May manufacturers' sentiment index +5 vs April +11
  • Manufacturers' mood hits lowest since Feb 2021
  • May service sector index +13 vs +8 in April
  • manufacturers' business confidence was seen falling to 3 in August, while that of service-sector firms was expected to fall slightly to 12
  • firms faced headwinds from persistently high raw material costs and Chinese coronavirus lockdown measures.

Some comments from survey participants:

  • "We're seeing a decrease in our workload as carmakers are facing impact on their output from chip shortages and Chinese coronavirus lockdowns that are causing parts supply delays," said a manager at a transportation equipment maker.
  • "Soaring raw material prices could not sufficiently be passed on," said a manager at a metal products maker.
  • Another manager, at a construction firm, said purchasing prices of goods had soared due to Russia's invasion of Ukraine.

Reuters Tankan monthly poll:

  • poll of 499 big and mid-sized companies
  • conducted from April 26 to May 13
  • 236 responses
  • The Reuters Tankan index readings are calculated by subtracting the percentage of respondents who say conditions are poor from those who say they are good. A positive reading means optimists outnumber pessimists.

jpy shows little response:

usdyen 18 May 2022