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News 30

Japan firms less gloomy, see upturn: tankan

(Reuters) - Japanese manufacturers' business mood improved for the first time in three quarters and service-sector sentiment hit a four-year high, the central bank's tankan survey for June showed, underscoring a view that the world's third largest economy is headed for a recovery.

Big manufacturers expect conditions to improve in the next three months and plan increases in capital expenditure in the current fiscal year to March 2013, the closely watched quarterly survey showed on Monday, a sign that rebuilding from last year's earthquake offset some of the pain from a strong yen and slowing overseas growth.

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