Japanese big firms say economic conditions improving

• Source: Xinhua
• [20:12 June 22 2009]
• Comments

Business sentiment among large Japanese companies improved in the April-June quarter from the first quarter this year, helped by signs of improvement in overseas demand, a government survey said Monday.

The index of business conditions at big companies came to minus 22.4 on an all-industry basis, compared with a record low of minus 51.3 in the January-March quarter, according to the survey carried out by the Cabinet Office and the Finance Ministry.

The Japanese government said the business confidence among large companies, with a capital of 1 billion yen or more, is expected to improve further in the months ahead.

In an similar survey conducted by the Asahi Shimbun newspaper, 59 of 100 major companies said the economy had reached "a standstill," up from the previous survey in November when just one company said the same.

Asked when the Japanese economy was likely to recover, 35 companies, the largest number, chose "the first half of 2010," followed by 32 that picked "the second half of this year."