December 13th, 2019

Bank of Japan Tankan

Japanese economy remain resilient despite the misfortune of manufacturers

Published quarterly by the Bank of Japan. Updated till the quarter of October-December 2019 (published on December 13th, 2019).

Recent data trend:

The December BoJ Tankan survey showed that the business condition for Japanese manufacturers continued to nosedive in the last quarter of 2019. The deterioration is more pronounced for larger manufacturers. Their business condition is now worse than what they reported in early 2016 when the fear of a China-centered recession shook the global economy. However, the are a number of positive spots in the Tankan survey that indicate the deterioration may not trigger an economy-wide recession. Busi...

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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: April 1st, 2020


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