Japan corporate capex up, record recurring profits for Q3

TOKYO – Japanese companies raised spending on plant and equipment in the July-September quarter, Ministry of Finance data showed on Thursday, in a sign business investment remains resilient and a boost to recovery from a COVID-19 induced downturn.

Solid capital expenditure could keep alive hopes for a private demand-led recovery, although overseas economies teetered on the edge of a global slump, led by China whose zero-coronavirus policy curbs have backfired on growth.

Japanese firms increased capital spending in the third quarter by 9.8 percent from the same period a year earlier, Ministry of Finance data showed on Thursday, a sixth straight quarterly increase, the data showed.
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