Japan Capital Spending (MOF) in Japan

Ministry of Finance Japan · Quarterly · Importance

13,025,013 (Q2-26) ABS · JPY mn · Quarterly · CSV
1.59% (Q2-26) YOY · % · Quarterly · CSV
-30.7% (Q2-26) QOQ · % · Quarterly · CSV
PeriodJPY mn
Apr 2026 13,025,013
Jan 2026 18,806,390
Oct 2025 15,386,540
Jul 2025 13,806,316
Apr 2025 12,821,363
Jan 2025 18,797,512
Oct 2024 14,451,800
Jul 2024 13,411,003
Apr 2024 11,916,142
Jan 2024 17,662,787
Oct 2023 14,482,320
Jul 2023 12,407,897
Apr 2023 11,092,746
Jan 2023 16,539,517
Oct 2022 12,441,674
Jul 2022 12,001,707
Apr 2022 10,610,780
Jan 2022 14,904,027
Oct 2021 11,551,825
Jul 2021 10,927,615
Apr 2021 10,146,463
Jan 2021 14,470,232
Oct 2020 11,076,052
Jul 2020 10,800,618
Apr 2020 9,636,873
Jan 2020 15,694,906
Oct 2019 11,630,283
Jul 2019 12,082,621
Apr 2019 10,868,730
Jan 2019 15,676,269
Oct 2018 12,052,988
Jul 2018 11,278,448
Apr 2018 10,661,321
Jan 2018 14,772,034
Oct 2017 11,400,008
Jul 2017 10,791,957
Apr 2017 9,450,553
Jan 2017 14,290,057
Oct 2016 10,935,003
Jul 2016 10,352,140
Apr 2016 9,314,451
Jan 2016 13,680,548
Oct 2015 10,530,186
Jul 2015 10,493,682
Apr 2015 9,038,518
Jan 2015 13,129,381
Oct 2014 9,707,992
Jul 2014 9,438,274
Apr 2014 8,561,655
Jan 2014 12,230,655
Oct 2013 9,439,320
Jul 2013 8,942,404
Apr 2013 8,310,594
Jan 2013 11,392,844
Oct 2012 9,076,672
Jul 2012 8,806,228
Apr 2012 8,309,224
Jan 2012 11,854,506
Oct 2011 9,944,185
Jul 2011 8,618,326
Period%
Apr 2026 1.59%
Jan 2026 0.05%
Oct 2025 6.47%
Jul 2025 2.95%
Apr 2025 7.60%
Jan 2025 6.42%
Oct 2024 -0.21%
Jul 2024 8.08%
Apr 2024 7.42%
Jan 2024 6.79%
Oct 2023 16.40%
Jul 2023 3.38%
Apr 2023 4.54%
Jan 2023 10.97%
Oct 2022 7.70%
Jul 2022 9.83%
Apr 2022 4.58%
Jan 2022 3.00%
Oct 2021 4.30%
Jul 2021 1.18%
Apr 2021 5.29%
Jan 2021 -7.80%
Oct 2020 -4.77%
Jul 2020 -10.61%
Apr 2020 -11.33%
Jan 2020 0.12%
Oct 2019 -3.51%
Jul 2019 7.13%
Apr 2019 1.95%
Jan 2019 6.12%
Oct 2018 5.73%
Jul 2018 4.51%
Apr 2018 12.81%
Jan 2018 3.37%
Oct 2017 4.25%
Jul 2017 4.25%
Apr 2017 1.46%
Jan 2017 4.46%
Oct 2016 3.84%
Jul 2016 -1.35%
Apr 2016 3.05%
Jan 2016 4.20%
Oct 2015 8.47%
Jul 2015 11.18%
Apr 2015 5.57%
Jan 2015 7.35%
Oct 2014 2.85%
Jul 2014 5.55%
Apr 2014 3.02%
Jan 2014 7.35%
Oct 2013 4.00%
Jul 2013 1.55%
Apr 2013 0.02%
Jan 2013 -3.89%
Oct 2012 -8.72%
Jul 2012 2.18%
Apr 2012 7.71%
Jan 2012 3.33%
Oct 2011 7.61%
Jul 2011 -9.80%
Period%
Apr 2026 -30.7%
Jan 2026 22.2%
Oct 2025 11.4%
Jul 2025 7.7%
Apr 2025 -31.8%
Jan 2025 30.1%
Oct 2024 7.8%
Jul 2024 12.5%
Apr 2024 -32.5%
Jan 2024 22.0%
Oct 2023 16.7%
Jul 2023 11.9%
Apr 2023 -32.9%
Jan 2023 32.9%
Oct 2022 3.7%
Jul 2022 13.1%
Apr 2022 -28.8%
Jan 2022 29.0%
Oct 2021 5.7%
Jul 2021 7.7%
Apr 2021 -29.9%
Jan 2021 30.6%
Oct 2020 2.6%
Jul 2020 12.1%
Apr 2020 -38.6%
Jan 2020 34.9%
Oct 2019 -3.7%
Jul 2019 11.2%
Apr 2019 -30.7%
Jan 2019 30.1%
Oct 2018 6.9%
Jul 2018 5.8%
Apr 2018 -27.8%
Jan 2018 29.6%
Oct 2017 5.6%
Jul 2017 14.2%
Apr 2017 -33.9%
Jan 2017 30.7%
Oct 2016 5.6%
Jul 2016 11.1%
Apr 2016 -31.9%
Jan 2016 29.9%
Oct 2015 0.3%
Jul 2015 16.1%
Apr 2015 -31.2%
Jan 2015 35.2%
Oct 2014 2.9%
Jul 2014 10.2%
Apr 2014 -30.0%
Jan 2014 29.6%
Oct 2013 5.6%
Jul 2013 7.6%
Apr 2013 -27.1%
Jan 2013 25.5%
Oct 2012 3.1%
Jul 2012 6.0%
Apr 2012 -29.9%
Jan 2012 19.2%
Oct 2011 15.4%
Jul 2011 11.7%

About this indicator

Source
Ministry of Finance Japan (MOF)
Frequency
Quarterly
Release
Some two months after the reference quarter ends (around month-end, 23:50 GMT)
What it is
Measures the actual capital spending (investment in new fixed assets, including software) by Japan's non-financial corporations over a quarter, aggregated across all sectors and firm sizes. It is published by the Ministry of Finance (MOF) and differs from the Bank of Japan's Tankan investment plans, which capture intentions rather than actual outlays.
How it's calculated
The MOF surveys a sample of firms each quarter (the Financial Statements Statistics of Corporations) on their financial statements, including the quarter's spending on new fixed assets. The total for 'all industries excluding finance and insurance, all sizes' is aggregated in millions of yen; the year-on-year change is measured against the same quarter a year earlier.
Market implications
Rising capital spending reflects business confidence and productive investment, supporting the economy's potential growth; a fall suggests corporate caution or excess installed capacity. The data also feed the revision of the investment component of Japan's GDP.
Limitations
A highly volatile series quarter to quarter (the gross-level figures are not seasonally adjusted); it is released about two months after the quarter closes and can differ substantially from the Tankan capex reading, since it measures actual outlays rather than intentions.