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The Foreign Chambers in Japan (FCIJ) has been conducting Business Confidence surveys online twice a year since 2002 among foreign-affiliated companies in Japan. This, the 23rd, survey was conducted between 10 and 19 April 2013, and received 293 valid responses from members of 18 foreign chambers of commerce and business organizations.

As expected, the views on the Japanese economy showed a significant improvement from the previous survey (in October 2012). The economy for the next 6 months is expected to grow significantly - the index (on a scale from +2 to -2) was now +1.00 (compared to -0.01 in October), and looking 12 months ahead, the companies see still a slightly higher growth rate, index was +1.06, much higher than the +0.19 in the previous survey. Only once since the survey was started in 2002 the index has been higher, in October 2005 (+1.12). 

The positive views on the economy did however not fully reflect in the reported and projected performance of the companies, most likely due to the weakening of the yen.

This time the survey included two alternating questions, the first regarding “Abenomics”, the second related to the Free-Trade agreements.

For the full report, click here.