Japan business sentiment dips in March

TOKYO (AFP) — Confidence among Japan’s biggest manufacturers has slipped after five quarters of rises, a key central bank survey showed Monday as a stronger yen dented exporter sentiment.

The Bank of Japan’s Tankan report — a quarterly survey of about 10,000 companies — showed a reading of 24 among major manufacturers in its March survey against 26 in the December report.

Due to a triennial reshuffling of companies surveyed, the confi- dence for the December 2017 quarter was recalculated to 26 with the new base, from the 25 released in December.

The Tankan report, the broadest indicator of how Japan Inc is faring, marks the difference between the percentage of firms that are upbeat and those that see conditions as unfavorable.

The survey came after a batch of solid economic data released on Friday, which showed factory production picked up in February while the jobless rate stayed low.