Japan Big Makers' Sentiment Worsens for 1st Time in 6 Qtrs

Tokyo, July 1 (Jiji Press)--Business sentiment among large manufacturers in Japan deteriorated for the first time in sixth quarters, the Bank of Japan's "tankan" quarterly survey for June showed Tuesday. The headline diffusion index for large manufacturers' current business conditions stood at plus 12, against plus 17 in the previous survey for March, the BOJ said. The latest DI reading compared with the average forecast of plus 15 among 16 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 19, down from plus 24, the BOJ said. The business outlook DI toward September stood at plus 15 for large manufacturers and plus 19 for large nonmanufacturers. Capital spending in fiscal 2014 that started in April is forecast to expand 12.7 pct from the previous year at large manufacturers and rise 4.9 pct at large nonmanufacturers. END