Manufacturers plan to spend 17.1 percent more in capital investment this year than they did in fiscal 2002 for the first rise in three years. The total figure forecast is 3.48 trillion yen.
According to a government survey released Monday, private capital investment in all industry is expected to rise, to the tune of 6.7 percent for a total of 9.61 trillion yen. It also would be the first increase in three years.
The survey, conducted March 31, covered 2,204 companies with capitalization of 100 million yen or more, with 1,342 of them responding.
Manufacturers dealing in raw materials are forecasting a great leap in their capital investment in fiscal 2003, with 43.3 percent growth in the nonferrous metal industry and a 39.8 percent rise in ceramics and clay products.
The automobile industry plans to increase its capital spending by 24.3 percent.