Sentiment among large Japanese companies improved for the second straight quarter in the October-December period, reflecting increased business activity amid a drop in coronavirus infections in the country, a government survey showed Thursday.

The confidence index covering firms capitalized at ¥1 billion ($8.8 million) or more hit 9.6, up 6.3 points from the July-September period to hit its highest since the fourth quarter of 2020, according to the joint survey by the Finance Ministry and Cabinet Office.

The figure stayed positive for the second quarter in a row.