Japanese firms grew more pessimistic over the past three months and see no end to the nation's economic woes, according to the Bank of Japan's quarterly "tankan" business sentiment survey for December.
The central bank's latest survey, released Monday, appears to contradict a more optimistic observation aired last week by the Economic Planning Agency, which said in a monthly report that there are signs the economy may begin to pick up in the not-so-distant future.
The dismal tankan is expected to add further pressure on the government to quickly implement steps to boost domestic demand that are included in its economic stimulus package and restore confidence in the banking sector through financial reforms.