TOKYO (AFX-ASIA) - Japanese firms expect overall third quarter to September capital spending to fall by 6.3 pct from the previous quarter, a survey of firms by the Cabinet Office found.
The survey was carried out on September 25 among firms capitalized at 100 mln yen or more, and received a 90.5 pct response rate. The Cabinet Office provided the following quarter-on-quarter capex estimates, compared with the figures for the previous quarter to June (and the estimates for the June quarter in the previous survey):
All firms - down 6.3 pct vs down 1.7 (down 8.6)
Manufacturers - down 10.3 pct vs 0.0 (down 9.6)
Non-manufacturers - down 4.2 pct vs down 4.5 (down 10.4)

It also provided the following year-on-year capex estimates, compared with the figures for the previous quarter (and the estimates for the June quarter in the previous survey:
All firms - down 0.3 pct vs up 3.6 (up 3.4)
Manufacturers - down 3.6 pct vs up 9.1 (up 9.8)
Non-manufacturers - up 1.5 pct vs up 0.8 (up 4.2)

The Cabinet provided the following year to March capex estimates, against the numbers for the previous year:
All firms - down 3.2 pct vs up 2.6
Manufacturers - down 5.1 pct vs up 7.7
Non-manufacturers - down 2.2 pct vs up 0.1

The Cabinet Office added that the index of confidence in economic conditions in the third quarter to September reached minus 60, compared with minus 38 in the June quarter, and a forecast in the earlier survey of minus 27.
The quarter to December is seen at minus 52, from minus 12 in the last survey, and the March quarter at minus 24.