Business sentiment among major Japanese companies in the April to June period was negative for the second consecutive quarter as Russia's invasion of Ukraine drove oil prices higher, government data showed Monday.
The confidence index covering firms capitalized at ¥1 billion ($7.4 million) or more logged minus 0.9, compared with minus 7.5 in the January to March period, dragged down by a plunge in auto-related manufacturers at minus 25.4, according to the joint survey by the Finance Ministry and Cabinet Office.
The sector was hit by a decrease in production due to parts supply shortages.