Japan Big Makers' Sentiment Improves for 5th Quarter

Tokyo, April 1 (Jiji Press)--Business sentiment among large manufacturers in Japan improved for the fifth straight quarter, the Bank of Japan's "tankan" quarterly survey for March showed Tuesday. The headline diffusion index for large manufacturers' current business conditions stood at plus 17, against plus 16 in the previous survey in December, hitting the highest level since December 2007, according to the closely watched central bank survey. The reading compared with the average forecast of plus 19 among 19 economic research institutes surveyed by Jiji Press. The DI represents the percentage of companies seeing good business conditions minus those feeling the opposite. The current business condition DI for large nonmanufacturers came to plus 24, up from plus 20, the BOJ said. The business outlook DI toward June stood at plus 8 for large manufacturers and plus 13 for large nonmanufacturers. Capital expenditures in fiscal 2014 are forecast to rise 3.6 pct from the previous year at large manufacturers and decrease 1.6 pct at large nonmanufacturers. END