2 April 2001, 18:57  BoJ/March Tankan -- 2 (capex forecasts)

The Tankan showed that all surveyed companies plan to cut combined year to March 2001 capital expenditure by 0.2 pct, compared with the 3.6 pct increase shown in the December survey.
It also gave a breakdown of year to March 2001 capital expenditure forecasts, including figures for all companies in each division, as well as data for the manufacturing and non-manufacturing sectors.
The breakdown that follows compares year to March 2001 capex estimates made in the March survey with those for the same period made in the December survey:
All industries - down 0.2 pct vs up 3.6 pct
All manufacturers - up 13.8 pct vs rise 15.3 pct
All non-manufacturers - down 4.8 pct vs fall 0.3 pct
Large industry - up 4.5 pct vs rise 7.6 pct
Large manufacturers - up 14.6 pct vs rise 16.4 pct
Large non-manufacturers - down 1.4 pct vs rise 2.5 pct
Mid-sized companies - down 4.6 pct vs fall 1.7 pct
Mid-sized manufacturers - up 12.9 pct vs rise 14.6 pct
Mid-sized non-manufacturers - down 6.8 pct vs rise 0.1 pct
Small industry - down 2.5 pct vs fall 2.8 pct
Small manufacturers - up 11.2 pct vs rise 11.3 pct
Small non-manufacturers - down 6.7 pct vs fall 7.2 pct

The Tankan also provided following capital spending estimates provided by the surveyed firms for the year to March 2002:
All industries - down 8.6 pct
All manufacturers - down 3.9 pct
All non-manufacturers - down 10.5 pct
Large industry - down 4.7 pct
Large manufacturers - up 2.3 pct
Large non-manufacturers - down 9.5 pct
Mid-sized companies - down 7.9 pct
Mid-sized manufacturers - down 10.0 pct
Mid-sized non-manufacturer - down 7.5 pct
Small industry - down 21.3 pct
Small manufacturers - down 22.9 pct
Small non-manufacturers - down 20.7 pct

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