• Kyodo News


Major firms’ capital spending plans for this business year posted a 9.2 percent plunge from 2008 to ¥18.221 trillion, the sharpest fall since such data were first kept in fiscal 1956, the Development Bank of Japan said Tuesday.

Their real capital spending in fiscal 2008 declined 7.1 percent as industrial production nose-dived along with the rapid economic deterioration since last fall, the government-affiliated bank said.

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