Japanese Manufacturers Are Slightly More Optimistic Despite Trump Tariff Worries
- The Bank of Japan's Tankan survey released on July 1, 2025, showed big manufacturers' business confidence steady at +13 in July-September, matching April-June.
- This followed a backdrop of economic challenges including a shrinking economy in Q1 2025, weak consumption, and ongoing U.S. tariffs on Japanese exports.
- The survey also reported slight worsening in big non-manufacturers' sentiment to +34, rising cost of living squeezing consumption, and cautious expectations for business conditions ahead.
- Large corporations anticipate raising their capital spending by 11.5% in the fiscal year ending March 2026, surpassing previous estimates despite ongoing uncertainties related to U.S. trade measures.
- Overall, the Tankan reflects cautious optimism amid external risks, with the BOJ having raised short-term rates to 0.25% in July and preparing to review economic forecasts at its upcoming meeting.
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Japanese manufacturers turn more optimistic
TOKYO, Japan — Business sentiment among large Japanese manufacturers has improved slightly, according to a survey by Japan’s central bank released Tuesday, although worries persist over President Donald Trump’s tariffs. The Bank of Japan’s quarterly tankan survey said an index for large manufacturers rose to plus 13 from plus 12 in March, when it marked
Japan’s Business Mood Holds up but US Tariff Worries Grow, Survey Shows
TOKYO, July 1 (Reuters) - Confidence among large Japanese manufacturers improved in the three months to June, a central bank survey showed, as firms maintained their bullish long-term spending plans, unfazed by the immediate potential hit from steep U.S. tariffs.
Japan’s central bank survey underpins optimism about growth | The Asahi Shimbun Asia & Japan Watch
Business sentiment among Japan’s large manufacturers stood unchanged in the latest quarter from the previous quarter, according to a closely watched survey called “tankan” released Tuesday.

Japanese manufacturers are slightly more optimistic despite Trump tariff worries
Business sentiment among large Japanese manufacturers has improved slightly, according to a survey by Japan’s central bank, despite persisting worries over President Donald Trump’s tariffs.
Japan business mood improves despite tariff risks, BOJ tankan shows
TOKYO :Business sentiment among Japan's big manufacturers unexpectedly improved in the three months to June, a central bank survey showed on Tuesday, a sign companies are still awaiting clarity on the potential hit from steep U.S. tariffs.Sentiment among big non-manufacturers worsened slightly, the closely wa
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