Nearly half of Japan's companies have no immediate plans in place to help counter the impact of the coronavirus pandemic, although a third of those surveyed indicated they were looking to improve productivity to cushion the blow.
The survey suggests a long path to recovery. The world's third-largest economy is expected to shrink at its fastest pace in decades this fiscal year, with economic activity not seen returning to pre-pandemic levels for another 2 to 3 years, analysts have said.
In the latest monthly corporate survey by Reuters, 49 percent said they had no plans in place to cushion the hit to sales and profits this summer. Among transport equipment makers, Japan's key industry, the rate was higher at about 66 percent.