Business and Investment Survey
of Incorporated Enterprises
(Summary)
 
December 2002

13 February 2003
Economic and Social Research Institute, Cabinet Office

Explanation of Business and Investment Survey of Incorporated Enterprises

    This survey was conducted on December 25, using a sample of 4,561 companies capitalized at 100 million yen or more, of which 91.2% percent responded.

(Table 1) BSI on domestic economic conditions on an all-Industry basis

 (Seasonally adjusted ;%)
               BSI
      (A) (B) (C) (D)
1984 Apr.-Jun. 38 59 3 35
   Jul.-Sep. 37 58 5 32
   Oct.-Dec. 35 63 2 33
1985 Jan.-Mar. 28 72 0 28
   Apr.-Jun. 21 74 5 16
   Jul.-Sep. 12 77 11 1
   Oct.-Dec. 5 71 24 -19
1986 Jan.-Mar. 5 58 37 -32
   Apr.-Jun. 4 53 43 -39
   Jul.-Sep. 3 48 49 -46
   Oct.-Dec. 2 54 44 -42
1987 Jan.-Mar. 4 61 35 -31
   Apr.-Jun. 7 74 19 -12
   Jul.-Sep. 27 65 8 19
   Oct.-Dec. 37 59 4 33
1988 Jan.-Mar. 46 53 1 45
   Apr.-Jun. 44 54 2 42
   Jul.-Sep. 35 60 5 30
   Oct.-Dec. 34 65 1 33
1989 Jan.-Mar. 32 68 0 32
   Apr.-Jun. 26 69 5 21
   Jul.-Sep. 24 70 6 18
   Oct.-Dec. 28 72 0 28
1990 Jan.-Mar. 21 79 0 21
   Apr.-Jun. 16 78 6 10
   Jul.-Sep. 13 79 8 5
   Oct.-Dec. 8 83 9 -1
1991 Jan.-Mar. 7 78 15 -8
   Apr.-Jun. 6 74 20 -14
   Jul.-Sep. 3 71 26 -23
   Oct.-Dec. 2 47 51 -49
1992 Jan.-Mar. 2 33 65 -63
   Apr.-Jun. 1 42 57 -56
   Jul.-Sep. 0 37 63 -63
   Oct.-Dec. 1 48 51 -50
1993 Jan.-Mar. 2 48 50 -48
   Apr.-Jun. 6 67 27 -21
   Jul.-Sep. 0 61 39 -39
   Oct.-Dec. 1 52 47 -46
1994 Jan.-Mar. 3 75 22 -19
   Apr.-Jun. 7 78 15 -8
   Jul.-Sep. 22 72 6 16
   Oct.-Dec. 25 73 2 23
1995 Jan.-Mar. 13 76 11 2
   Apr.-Jun. 8 75 17 -9
   Jul.-Sep. 5 81 14 -9
   Oct.-Dec. 9 86 5 4
1996 Jan.-Mar. 17 80 3 14
   Apr.-Jun. 23 72 5 18
   Jul.-Sep. 12 84 4 8
   Oct.-Dec. 13 84 3 10
1997 Jan.-Mar. 15 79 6 9
   Apr.-Jun. 6 70 24 -18
   Jul.-Sep. 6 82 12 -6
   Oct.-Dec. 2 48 50 -48
1998 Jan.-Mar. 1 49 50 -49
   Apr.-Jun. 0 42 58 -58
   Jul.-Sep. 0 39 61 -61
   Oct.-Dec. 1 58 41 -40
1999 Jan.-Mar. 3 72 25 -22
   Apr.-Jun. 5 81 14 -9
   Jul.-Sep. 12 82 6 6
   Oct.-Dec. 13 82 5 8
2000 Jan.-Mar. 13 82 5 8
   Apr.-Jun. 13 80 7 6
   Jul.-Sep. 18 80 2 16
   Oct.-Dec. 10 82 8 2
2001 Jan.-Mar. 5 60 35 -30
   Apr.-Jun. 0 55 45 -45
   Jul.-Sep. 0 40 60 -60
   Oct.-Dec. 1 41 58 -57
2002 Jan.-Mar. 4 56 40 -36
   Apr.-Jun. 5 73 22 -17
   Jul.-Sep. 1 76 23 -22
   Oct.-Dec. 3 71 26 -23
2003 Jan.-Mar.(E) 6 69 25 -19
   Apr.-Jun.(E) 5 71 24 -19
    (Note)
(A) The percentage of companies saying that domestic economic conditions are rising compared with the previous quarter.
(B) The percentage of companies saying that domestic economic conditions are unchanged.
(C) The percentage of companies saying that domestic economic conditions are declining compered with the previos quarter.
(D) (D)=(A)-(C) , BSI : Business Survey Index .
(E) Companies answered economic conditions of next two consecutive quarters.Thus the BSI figures of Jan.-Mar. and Apr.-Jun. of 2003 are outlook.
 

(Table 2) Capital spending plan for FY2002

 (100 million yen,%)
   FY2000 FY2001 FY2002 FY2000 FY2001 FY2002
   (Actual) (Actual) (Plan) (Actual) (Actual) (Plan)
All Industries 430,980 409,971 377,503 2.6 -4.9 -7.9
Manufacturing 147,304 132,707 111,284 7.7 -9.9 -16.1
Basic materials 38,789 40,769 30,413 -1.9 5.1 -25.4
Textiles 1,958 1,958 1,590 -18.8 0.0 -18.8
Paper and paper products 3,297 3,224 2,631 10.3 -2.2 -18.4
Chemicals and chemical products 15,334 16,528 14,062 -1.7 7.8 -14.9
Petroleum and coal products 1,493 1,827 1,574 -34.2 22.4 -13.8
Rubber and leather products 839 705 571 -4.5 -16.0 -19.1
Nonmetallic mineral products 4,733 4,502 3,836 5.1 -4.9 -14.8
Iron and steel 5,504 6,253 3,732 -10.5 13.6 -40.3
Non-ferrous metals 5,631 5,772 2,418 19.4 2.5 -58.1
Processing 108,516 91,939 80,871 11.6 -15.3 -12.0
Food and beverages 10,622 11,476 12,025 -0.9 8.0 4.8
Fabricated metal products 3,850 3,363 2,896 0.8 -12.7 -13.9
General machinery 6,131 6,890 5,123 -5.1 12.4 -25.6
Electrical machinery 51,739 32,403 24,774 36.1 -37.4 -23.5
Automobiles 14,451 14,923 15,178 -2.3 3.3 1.7
Other transport equipment 1,664 1,461 984 -29.1 -12.2 -32.6
Precision Instruments 4,405 3,684 3,354 27.1 -16.4 -8.9
Other manufacturing 15,653 17,739 16,537 -11.3 13.3 -6.8
Non-manufacturing 283,676 277,264 266,219 0.1 -2.3 -4.0
Agriculture,forestry and fishing 212 118 158 91.6 -44.4 34.3
Mining 792 769 624 -0.7 -2.8 -18.9
Construction 3,585 3,339 3,935 -18.2 -6.9 17.9
Wholesaling 10,772 11,531 11,845 13.1 7.1 2.7
Retail trade,and eating and drinking places 18,109 13,899 15,822 8.6 -23.3 13.8
Finance and Insurance 16,720 20,155 18,211 10.8 20.5 -9.6
Real estate 18,379 18,981 22,299 8.5 3.3 17.5
Transportation 19,570 20,937 25,587 -22.1 7.0 22.2
Communications 29,786 28,056 26,827 -5.2 -5.8 -4.4
Electric and gas utilities 37,991 34,229 29,264 -22.0 -9.9 -14.5
Services 41,044 37,207 26,046 22.6 -9.3 -30.0
Leasing 86,717 88,042 85,602 6.8 1.5 -2.8

(Table 3) Capital spending on a half-year basis

(100 million yen,%)
      All Industries Manufacturing Non-manufacturing All Industries Manufacturing Non-manufacturing
FY1984 Apr.-Sep. 103,856 47,683 56,173 - - -
   Oct.-Mar. 115,424 51,186 64,237 - - -
FY1985 Apr.-Sep. 123,728 53,103 70,625 19.1 11.4 25.7
   Oct.-Mar. 129,083 53,620 75,463 11.8 4.8 17.5
FY1986 Apr.-Sep. 123,466 51,370 72,096 -0.2 -3.3 2.1
   Oct.-Mar. 131,275 47,057 84,219 1.7 -12.2 11.6
FY1987 Apr.-Sep. 128,628 48,538 80,090 4.2 -5.5 11.1
   Oct.-Mar. 153,152 56,574 96,578 16.7 20.2 14.7
FY1988 Apr.-Sep. 160,738 62,614 98,124 25.0 29.0 22.5
   Oct.-Mar. 196,233 75,606 120,626 28.1 33.6 24.9
FY1989 Apr.-Sep. 196,649 78,898 117,751 22.3 26.0 20.0
   Oct.-Mar. 236,103 89,611 146,492 20.3 18.5 21.4
FY1990 Apr.-Sep. 233,893 96,682 137,211 18.9 22.5 16.5
   Oct.-Mar. 254,659 102,996 151,663 7.9 14.9 3.5
FY1991 Apr.-Sep. 250,402 102,636 147,766 7.1 6.2 7.7
   Oct.-Mar. 266,047 103,649 162,398 4.5 0.6 7.1
FY1992 Apr.-Sep. 242,000 92,361 149,639 -3.4 -10.0 1.3
   Oct.-Mar. 247,844 86,480 161,363 -6.8 -16.6 -0.6
FY1993 Apr.-Sep. 209,342 70,704 138,639 -13.5 -23.4 -7.4
   Oct.-Mar. 223,722 72,957 150,765 -9.7 -15.6 -6.6
FY1994 Apr.-Sep. 200,748 61,232 139,516 -4.1 -13.4 0.6
   Oct.-Mar. 207,472 61,704 145,769 -7.3 -15.4 -3.3
FY1995 Apr.-Sep. 196,564 64,272 132,291 -2.1 5.0 -5.2
   Oct.-Mar. 218,970 69,197 149,774 5.5 12.1 2.7
FY1996 Apr.-Sep. 210,427 69,908 140,519 7.1 8.8 6.2
   Oct.-Mar. 237,700 77,991 159,709 8.6 12.7 6.6
FY1997 Apr.-Sep. 219,677 75,670 144,006 4.4 8.2 2.5
   Oct.-Mar. 231,289 83,503 147,786 -2.7 7.1 -7.5
FY1998 Apr.-Sep. 211,398 74,109 137,289 -3.8 -2.1 -4.7
   Oct.-Mar. 215,576 75,047 140,529 -6.8 -10.1 -4.9
FY1999 Apr.-Sep. 198,977 67,205 131,772 -5.9 -9.3 -4.0
   Oct.-Mar. 221,263 69,595 151,668 2.6 -7.3 7.9
FY2000 Apr.-Sep. 197,935 68,733 129,201 -0.5 2.3 -2.0
   Oct.-Mar. 233,046 78,571 154,475 5.3 12.9 1.9
FY2001 Apr.-Sep. 197,408 67,961 129,447 -0.3 -1.1 0.2
   Oct.-Mar. 212,563 64,746 147,817 -8.8 -17.6 -4.3
FY2002 Apr.-Sep. 171,761 54,056 117,705 -13.0 -20.5 -9.1
   Oct.-Mar. 205,742 57,228 148,514 -3.2 -11.6 0.5