Machinery orders rose less than forecast in June, a sign that companies may be holding off on spending as the export-led recovery cools.
Orders, an indicator of business investment in three to six months, gained 1.6 percent from May, when they dropped 9.1 percent in the biggest decline since August 2008, the Cabinet Office said Wednesday. The median forecast of 25 economists in a survey was for a 5.4 percent gain.
Profits of exporters from Toyota Motor Corp. to Nissan Motor Co. are under threat from the rising yen, which is approaching a 15-year high against the dollar just as global demand starts to cool.