Companies are forecasting sustained price gains, providing support for the Bank of Japan's campaign to generate stable inflation.

They forecast inflation of 1.5 percent per year, unchanged from three months ago, the BOJ reported Wednesday. Companies see prices rising 1.6 percent from a year earlier in three years, and gaining 1.7 percent in five years.

BOJ Gov. Haruhiko Kuroda has cited rising inflation expectations, along with a closing of the output gap, as key drivers to achieve the bank's 2 percent price target.