Capital spending by nonfinancial Japanese companies rose 3.0 percent in the April-June period from a year earlier, indicating that the first consumption tax hike in 17 years has not significantly affected corporate investment, the government said Monday.
Business investment by all nonfinancial sectors for purposes such as building factories and purchasing equipment rose for the fifth straight quarter in the three months through June to ¥8.56 trillion, the Finance Ministry said.
Overall business investment, excluding spending on software, fell a seasonally adjusted 1.8 percent from the January-March period, down for the first time in three quarters, the ministry said.