Japan Inc. has become increasingly pessimistic about the country's ability to beat deflation, with the vast majority of firms now expecting no escape for the foreseeable future, a poll says.

Most companies also said they did not think Prime Minister Shinzo Abe's latest growth strategy that centers on lifting the minimum wage and investment in technology would help bring significant improvement to a faltering economy.

Abe swept into office three years ago with bold plans to end decades of deflation and bring about sustainable growth. But while unprecedented monetary policy in tandem with fiscal stimulus met with some initial success, any gains in ridding the country of its deflationary mindset look like they could be slipping away.