October 1st, 2019

Bank of Japan Tankan

Not all hopes are lost yet.

Published quarterly by the Bank of Japan. Updated till the quarter of July-September 2019 (published on October 1st, 2019).

Recent data trend:

The March BoJ Tankan result showed a rapid deterioration in the business condition for manufacturers. The reports contained a number of positive surprises though. Business condition DI for small manufacturers improved in March, renewing its historical high. Additionally, the capital investment outlook for the fiscal year 2019 was less dire than expected. It seems that not all hopes are lost. The large manufacturers' business condition DI deteriorated sharply from 19 in December 2018 to 12 in ...

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Brief Overview of "Tankan"

Tankan is a short-hand in Japanese for Tanki Kansoku, meaning Short-term Observation. The statistics are officially named in English as "Short-Term Economic Survey of Enterprises in Japan". Tankan surveys a total of 10,000 companies on their various business conditions and the results are one of the speediest indicators for corporate earnings. As you can see from charts below, Tankan's quarterly business condition DI results have very high correlations with the operating profit for the quarter and Tankan results are published well in advance of most corporate disclosure for the quarter. For this reason, Tankan results attract close financial market attention, although in recent years the results do not move the market as much as they used to. Besides business condition DI, Tankan includes a whole set of DIs such as employment condition DI that gives an indication of corporations' need for additional hiring. 

For more information, visit the official government page

BoJ Tankan by Industries

Source: BoJ, JMA

The Next Release Date:  December 13th, 2019


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