Japanese companies raised spending on plant and equipment in July-September by 5.5% from the same period last year, indicating the country’s corporate sector is eager to boost investment even with the April 1 sales tax hike, the Ministry of Finance data showed on Monday.
The latest data showed that business investments by all nonfinancial sectors on building plants and new equipment in Q3 increased for the sixth straight quarter to JPY9.43tr (USD79bn).
Some JPY5.99tr (USD50bn) Of the total capital spending (capex) in the July-September period was posted by non-manufacturers, representing a 2.7% increase. Manufacturers, meanwhile, spent JPY3.44tr (USD28bn) in the third quarter. – BusinessNewsAsia.com