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Ministry of Finance> Policy Research Institute> Statistics> Business Outlook Survey> July-September 2015

Business Outlook Survey

(July-September 2015)

Sep. 11, 2015

1. Business conditions

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

(%points)

		Apr.-Jun. 2015 (previous)	Jul.-Sep. 2015 (present)	Oct.-Dec. 2015 (outlook)	Jan.-Mar. 2016 (outlook)

Corporations with capital of 1 billion yen or over
	All industries	-1.2	9.6	7.7	7.0
	Manufacturing	-6.0	11.0	10.5	7.1
	Non-manufacturing	1.3	8.9	6.2	7.0
Corporations with capital of 100 million to 1 billion yen
	All industries	-2.2	5.7	8.0	5.4
	Manufacturing	-6.8	4.9	7.3	2.6
	Non-manufacturing	-0.7	5.9	8.2	6.3
Corporations with capital of 10 to 100 million yen
	All industries	-13.6	-11.2	-1.4	-4.5
	Manufacturing	-10.0	-12.5	1.4	-3.0
	Non-manufacturing	-14.4	-11.0	-1.9	-4.8

2. Domestic economic conditions

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

(%points)

		Apr.-Jun. 2015 (previous)	Jul.-Sep. 2015 (present)	Oct.-Dec. 2015 (outlook)	Jan.-Mar. 2016 (outlook)

Corporations with capital of 1 billion yen or over
	All industries	9.8	10.5	8.3	6.9
	Manufacturing	5.3	9.8	7.9	4.1
	Non-manufacturing	12.2	10.9	8.5	8.4
Corporations with capital of 100 million to 1 billion yen
	All industries	9.3	7.4	6.0	4.0
	Manufacturing	3.2	3.1	2.6	2.0
	Non-manufacturing	11.2	8.7	7.1	4.6
Corporations with capital of 10 to 100 million yen
	All industries	-7.5	-8.8	-3.2	-4.5
	Manufacturing	-5.2	-11.4	-1.2	-3.6
	Non-manufacturing	-8.0	-8.3	-3.6	-4.6

3. Employment

Business survey index
(Difference of "insufficient"-"excessive" )

(%points)

		End of Jun. 2015 (previous)	End of Sep. 2015 (present)	End of Dec. 2015 (outlook)	End of Mar. 2016 (outlook)

Corporations with capital of 1 billion yen or over
	All industries	10.6	11.6	10.1	9.1
	Manufacturing	4.2	6.3	4.0	2.5
	Non-manufacturing	13.9	14.4	13.3	12.6
Corporations with capital of 100 million to 1 billion yen
	All industries	20.4	22.0	19.3	17.5
	Manufacturing	10.4	13.7	11.5	8.8
	Non-manufacturing	23.5	24.6	21.7	20.2
Corporations with capital of 10 to 100 million yen
	All industries	17.3	18.3	17.6	14.6
	Manufacturing	13.8	16.3	15.6	10.3
	Non-manufacturing	18.0	18.7	18.0	15.5

4. Sales (compared with the previous year)

(%)

FY 2015	1st half FY 2015	2nd half FY 2015
All industries	0.1	0.7	-0.4
Manufacturing	0.2	0.8	-0.3
Non-manufacturing	0.1	0.6	-0.4

FY 2015

1st half

FY 2015

2nd half

FY 2015

All industries

0.1

0.7

-0.4

Manufacturing

0.2

0.8

-0.3

Non-manufacturing

0.1

0.6

-0.4

5. Ordinary profits (compared with the previous year)

(%)

FY 2015	1st half FY 2015	2nd half FY 2015
All industries	4.1	6.3	2.0
Manufacturing	2.1	7.0	-2.3
Non-manufacturing	5.0	6.0	4.0

FY 2015

1st half

FY 2015

2nd half

FY 2015

All industries

4.1

6.3

2.0

Manufacturing

2.1

7.0

-2.3

Non-manufacturing

5.0

6.0

4.0

6. Software and investment in plant and equipment (compared with the previous year)

(%)

FY 2015	1st half FY 2015	2nd half FY 2015
All industries	6.1	14.1	0.0
Manufacturing	13.6	24.8	5.2
Non-manufacturing	1.9	8.2	-3.0

FY 2015

1st half

FY 2015

2nd half

FY 2015

All industries

6.1

14.1

0.0

Manufacturing

13.6

24.8

5.2

Non-manufacturing

1.9

8.2

-3.0

Note: Excludes expense purchasing land.

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