Note 1-11
- Japanese version
- English version
(11) In the September survey, SMEs' business investment planned for FY 2003 was smaller than that for the previous year. However, in the BOJ's Tankan survey on business investment plans, planned business investment tends to be revised upward for the second half of a given fiscal year as plans take concrete shapes. Therefore, the level of business investment was relatively high for the September survey.