Japan companies hold firm on capex plans with focus on tech- Reuters poll

TOKYO – A majority of Japanese firms plan to focus their capital spending on technology next year, with investment plans largely unaffected by a plunge in the yen, a Reuters monthly poll showed.

While overall pessimism about the economic outlook remains, the survey backs up reports by the Japanese government and central bank last month that the capital expenditure outlook is turning up.

Among 400 companies polled, 52 percent said digitalization and information technology would be a focus for capital investment in fiscal 2023, a trend particularly strong among non-manufacturers.

Digitalisation was the most common answer among all firms, followed by labor-saving measures and decar…

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