BOJ Tankan Likely to Show Big Makers' Flat Sentiment

   Tokyo, June 26 (Jiji Press)--The Bank of Japan's "tankan" quarterly survey for June, due out Monday, will show little change in major Japanese manufacturers' business sentiment, according to forecasts by think tanks.
   Income growth expectations on the back of the yen's weakening were dampened by soured economic activities abroad and the fallout from newly detected type approval test fraud at domestic automakers, the 16 research institutes suggested.
   According to their average estimate, the headline diffusion index for large manufacturers' current business conditions will stand at plus 11, unchanged from the March tankan reading.
   Big makers took heart from a semiconductor market recovery and the waning impact of production and shipment suspensions owing to test data falsification at Daihatsu Motor Co. and Toyota Industries Corp. But following similar scandals, particularly at Toyota Motor Corp., weighed on their sentiment, many think tanks pointed out.
   The average projection for the DI for leading nonmanufacturers came to plus 34, also flat.

(2024/06/26-17:01)

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