Capital spending by companies rose 6.1 percent in the January-March quarter from a year earlier, official data showed Monday, supporting the government's view that the economy is in a moderate recovery phase despite the uncertain global outlook.
Investment by all nonfinancial sectors for purposes such as building factories and adding equipment and software stood at ¥15.68 trillion. It expanded 5.7 percent in the previous quarter.
The data released by the Finance Ministry showed a 10th straight quarterly gain, underpinned by investment by chemical firms to produce cosmetics and auto components as well as machinery makers to expand production of equipment for use in construction.