October 1, 2018

Bank of Japan Tankan

Tankan results show BoJ has a real chance to achieve its reflation goal.

Published quarterly by the Bank of Japan. Updated till the quarter of July-September 2018 (published on October 1st, 2018).

Recent data trend:

The December BoJ Tankan result showed a broad-based improvement in the business sentiment in Japan. The large manufacturers' business condition DI improved markedly from 22 in September, to 25 in December, a fifth consecutive quarter of a rise and the highest since Q4 2006. Perhaps more importantly for the overall economy, smaller businesses are also enjoying the economic upturn. Business condition DIs for both small manufacturers and non-manufacturers rose to an all-time high of 15 and 9 resp...

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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 14th, 2018


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