Japan’s large manufacturers sentiment improves for second straight quarter

TOKYO — Sentiment among Japanese large manufacturers improved during the three months to September, reflecting a recovery in the auto sector.

The main index for sentiment among large manufacturers was +9, compared with +5 in June, according to the Bank of Japan’s quarterly Tankan corporate survey released Monday. That was higher than economists’ forecast for +6 and marked the second straight quarter of improvement.

The index represents the percentage of companies who said business conditions were favorable minus those who said conditions were unfavorable.

Big companies plan to increase their capital expenditure by 13.6% for the fiscal year ending March 2024, compared with plans for a 13.4% increase projected in the previous survey.

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