An increasing number of major Japanese businesses are less pessimistic about the economy, as earnings and share prices have started picking up, according to a recent Kyodo News survey of executives at 100 big firms.

The survey, conducted in July, showed that at 85 firms, executives feel the economy remains basically flat, up from 77 companies in the previous survey late last year.

At six companies, executives said the economy "is slowly contracting," down from 14 last year. There were no companies where executives saw the economy as having contracted. In contrast, managers at eight firms saw activity "slowly expanding," up from six, according to the poll.