Japon Confiance Des Entreprises

The Bank of Japan’s index for large manufacturers edged up to 13 in Q2 2025 from a one-year low of 12 in the previous period, beating market forecasts of 10, as the economy navigates through rising U.S. tariffs. Confidence improved among firms producing pulp & paper (29 vs 18 in Q2), chemicals (14 vs 13), petroleum and coal (9 vs 0), iron & steel (-3 vs -18), business-oriented machinery (22 vs 19), and non-ferrous metals (16 vs 15). At the same time, sentiment remained stable for producers of textiles (at 0), food & beverages (at 8), electrical machinery (at 11), and shipbuilding & heavy machinery (at 27). In contrast, confidence weakened for manufacturers of processed metals (-3 vs 3), general-purpose machinery (23 vs 27), production machinery (15 vs 17), and motor vehicles (8 vs 13). Meanwhile, large firms planned to increase capital expenditure by 11.5% in Q2, a sharp acceleration from a 3.5% growth in Q1 and marking the fastest expansion in 1-1/2 years.