Business confidence among large companies deteriorated in the October-December period, with manufacturers hit by a strong yen and information technology-related firms undertaking inventory adjustments, the government said Monday.
The index on business conditions at large companies capitalized at 1 billion yen was 2.1 for the period, compared with 9.6 for the July-September quarter, the Cabinet Office and the Finance Ministry said in their joint quarterly survey.
The previous survey had projected the latest index reading at 9.5.