Business Outlook Survey

(January-March 2008)

March 24 , 2008

１．Business conditions

Businesssurvey index
(Difference of "up"-"down" compared with previous quarter)

(%)

		Oct.-Dec. 2007 (previous)	Jan.-Mar. 2008 (present)	Apr.-Jun. 2008 (outlook)	Jul.-Sep. 2008 (outlook)

Corporationswith capital of 1 billion yen or over
	Allindustries	0.5	-9.3	-2.3	6.6
	Manufacturing	5.2	-12.9	-1.6	7.3	Non-manufacturing	-2.2	-7.2	-2.8	6.1	Corporationswith capital of 100 million to 1 billion yen	Allindustries	-2.6	-14.1	-5.0	4.7	Manufacturing	2.7	-18.9	-3.2	7.1	Non-manufacturing	-4.3	-12.6	-5.6	3.9	Corporationswith capital of 10 to 100 million yen	Allindustries	-18.7	-30.4	-20.2	-12.7	Manufacturing	-16.8	-32.7	-15.1	-9.0	Non-manufacturing	-19.1	-29.9	-21.2	-13.5

2．Domestic economic conditions

Businesssurvey index
(Difference of "up"-"down" compared with previous quarter)

(%)

		Oct.-Dec. 2007 (previous)	Jan.-Mar. 2008 (present)	Apr.-Jun. 2008 (outlook)	Jul.-Sep. 2008 (outlook)
						Corporationswith capital of 1 billion yen or over							Allindustries	-4.1	-21.1	-9.0	1.2	Manufacturing	-0.6	-20.6	-7.5	2.1	Non-manufacturing	-6.2	-21.4	-10.0	0.6	Corporationswith capital of 100 million to 1 billion yen							Allindustries	-9.1	-28.3	-16.9	-5.5	Manufacturing	-7.9	-29.3	-13.4	-2.5	Non-manufacturing	-9.5	-27.9	-18.0	-6.5	Corporationswith capital of 10 to 100 million yen							Allindustries	-26.3	-42.7	-29.1	-19.6	Manufacturing	-25.0	-42.2	-21.8	-14.3	Non-manufacturing	-26.6	-42.8	-30.6	-20.7

3.Sales(compared with the previous year)

(%)

FY 2007	1sthalf FY 2007	2nd half FY 2007	FY 2008	1sthalf FY 2008	2nd half FY 2008
Allindustries	1.9	2.8	1.1	1.4	1.3	1.5
Manufacturing	4.6	5.7	3.6	2.1	2.2	1.9
Non-manufacturing	0.7	1.5	-0.1	1.1	0.9	1.3

4.Ordinary profits (compared with the previous year)

(%)

FY 2007	1sthalf FY 2007	2nd half FY 2007	FY 2008	1sthalf FY 2008	2nd half FY 2008
All industries	-2.9	2.9	-8.3	6.0	2.0	9.6
Manufacturing	-0.9	4.8	-6.2	2.5	-5.2	10.1	Non-manufacturing	-4.5	1.4	-9.7	8.3	7.2	9.3

5.Investment in plant andequipment (compared with the previous year)

(%)

FY 2007	1sthalf FY 2007	2nd half FY 2007	FY 2008	1sthalf FY 2008	2nd half FY 2008
Allindustries	0.6	-1.3	2.3	-9.4	2.2	-19.5
Manufacturing	2.6	2.7	2.5	-6.1	4.7	-15.9
Non-manufacturing	-0.8	-4.1	2.2	-11.6	0.4	-21.7

6.Employment

Businesssurvey index
(Difference of "insufficient"-"excessive" )

(%)

		Oct.-Dec. 2007 (previous)	Jan.-Mar. 2008 (present)	Apr.-Jun. 2008 (outlook)	Jul.-Sep. 2008 (outlook)

Corporationswith capital of 1 billion yen or over
	Allindustries	18.1	17.2	10.5	9.6
	Manufacturing	11.8	11.4	6.6	5.8
	Non-manufacturing	21.9	20.6	12.7	11.8
Corporationswith capital of 100 million to 1 billion yen
	Allindustries	21.0	20.2	15.1	14.3
	Manufacturing	16.8	14.9	9.0	9.3
	Non-manufacturing	22.3	21.9	17.1	15.9
Corporationswith capital of 10 to 100 million yen
	Allindustries	11.0	10.1	4.4	5.0
	Manufacturing	11.5	9.5	2.9	3.2
	Non-manufacturing	10.9	10.2	4.7	5.3

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