Bank of Japan (BoJ) Tankan Large All Industry Capex

The official name of Tankan is the "short-term economic observation survey". The word "Tankan" is used in Japan and abroad, and is widely known overseas. This is a statistical survey conducted by the Bank of Japan based on the Statistical Law, and it aims to accurately grasp corporate trends throughout the country and to contribute to the appropriate management of monetary policy. It is implemented quarterly for approximately 10,000 companies across the country. The index is used to evaluate the investment climate in Japan.

Tankan investigates items throughout the company's activities, including the actual and predicted values of business plans such as corporate business conditions, economic environment, sales, revenues, and capital expenditures.

BoJ Tankan Large All Industry Capex is the annual quarterly forecast of expenditures in all sectors of Japanese economy except banks. The calculation is based on the survey of companies with a capitalization of 1 billion JPY.

The index is calculated as an annual projection from each quarter's perspective based on data provided by the survey respondents. The index growth can have a positive effect on yen.

Japanese Fiscal Year covers from April to March in the following year. Every quarter the respondents give their forecast values for the Fiscal Year, starting from March survey which is before the next fiscal year starts.