About Tankan Capex (JPY)
The Tankan Capital Expenditure (Capex) Survey is a component of the Bank of Japan's quarterly Tankan report, capturing large manufacturers' actual and planned capital investment. It is a leading indicator for Japanese industrial investment trends.
Why FX traders watch it
Capex intentions reflect corporate confidence in domestic demand and export prospects. Strong Tankan capex signals healthy corporate balance sheets and growth potential, which can influence the BoJ's assessment of the economic cycle and reduce pressure for additional easing.
How to interpret the data
Upward revisions to capex plans are JPY-supportive as they indicate business confidence and potential demand-pull inflation. Downward revisions raise concerns about the economic outlook and may reinforce BoJ dovishness.