Japan Tankan Large Non-Manufacturing Index

According to the Tankan Survey of Business Conditions for Large Non-Manufacturers, which is conducted quarterly in Japan, the non-manufacturing sector accounts for around 1,050 enterprises with capital above one billion Yen. Respondents are asked to analyze current trends and conditions in the business environment and their particular industries, as well as their anticipated business activities for the upcoming quarter and year, in a survey that can be completed by mail or electronic mail. The indicator is determined by subtracting the percentage share of firms that gave negative responses from the percentage share of enterprises that gave positive responses. The indicator fluctuates on a range from -100 to 100, with a value over zero indicating business optimism, a value below zero indicating business pessimism, and a value of zero indicating neutrality.