The data will be used to calculate revised gross domestic product figures due on June 10. It followed a preliminary estimate that Japan’s economy contracted 2.0% annualised in the first quarter.
Capital spending slowed sharply from the fourth quarter, when it had jumped 16.4%.
The solid first-quarter capex data could bolster the case for the central bank to proceed with normalising monetary policy over time.
Capital expenditure fell 4.2% on a seasonally adjusted quarterly basis.
Monday’s MOF capex data also showed corporate sales rose 2.3% in the first quarter from a year earlier, and recurring profits increased 15.1%.
Source: Economy - investing.com
