Business confidence among large manufacturers deteriorated in the October to December period, posting the second straight quarterly deterioration on a decline in exports amid strained ties with China over the Senkakus row, the Bank of Japan announced Friday in its latest "tankan" corporate sentiment survey.
The index, which measures the confidence of big producers such as carmakers and high-tech firms, plunged to minus 12 in December, its lowest level since it slumped to minus 14 in March 2010, the central bank reported.
The figure was lower than the average of minus 10 forecast by economists polled by Kyodo.