Large manufacturing in Japan accelerated slightly in the fourth quarter of 2025, the Bank of Japan’s quarterly Tankan Survey of business sentiment showed on Wednesday with a diffusion index score of +15.
That was in line with forecasts and was up from +14 in the previous three months.
The outlook also came in at +15, matching forecasts and up from +12 in the previous quarter.
The large non-manufacturers index came in at +34, beating forecasts for +33 and unchanged from Q2. The outlook was steady at +28.
The small manufacturing index jumped to +6 from +1, while the outlook rose to +2 from -1.
The small non-manufacturing index ticked up to +15 from +14, while the outlook was steady at +10.
Large industry capex is seen higher by 12.6 percent, up from 12.5 percent in Q3. Small industry capex was up 0.1 percent after sinking 2.3 percent in the three months prior.
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