BoJ Tankan Small All Industry Capex is the annual quarterly forecast of expenditures in all sectors of Japanese economy except banks. It is a statistical survey conducted by the Bank of Japan based on the Statistical Law. It aims to accurately grasp corporate trends throughout the country and to contribute to the appropriate management of monetary policy.
A small company is defined as: in the case of wholesale business, the capital is less than 100 million yen, and the company has less than one hundred employees; in manufacturing and other cases, the capital is less than 300 million yen, and the number of employees is less than three hundred people.
The survey is implemented quarterly for approximately 10,000 companies across the country.
The index is used to evaluate the investment climate in Japan. The index value that exceeds the forecast value has positive effects on yen.
During the economic recovery phase, strong capital investment were made with the backdrop of favorable corporate profits. However, when we look at capital expenditures in the economic recovery phase from the point of view of ratio between ordinary income and cash flows, they are more cautious than in the past.
The chart of the entire available history of the "Bank of Japan (BoJ) Tankan Small All Industry Capex" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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