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The 135th Business Conditions (January-March 2014)

Survey Procedures

  Number of companies surveyed Number of valid response companies Response rate (%)
Manufacturing 4,636 (24.5) 4,481 (24.6) 96.7
Construction 2,425 (12.8) 2,335 (12.8) 96.3
Wholesale trade 1,201 (6.3) 1,149 (6.3) 95.7
Retail trade 4,704 (24.8) 4,517 (24.8) 96.1
Services 5,994 (31.6) 5,761 (31.5) 96.1
Total 18,957 (100.0) 18,243 (100.0) 96.2

Note: Figures in parenthesis show the composition ratios (%)

(1) Date of the survey:
As of March 1, 2014
(2) Survey method:
Feedback given to management consultants belonging to the Commerce and Industry Association and Chamber of Commerce and Industry throughout the country, and to survey personnel of the Federation of Small Business Associations
(3) Companies surveyed:
The nationwide complement of small and medium-sized enterprises as defined in the Small and Medium-sized Enterprise Basic Act
(4) Others
・For every quarter from April to June, the data in previous years is replaced with seasonally-adjusted data.
・The most recent long-term time series data is displayed on the website of the Small and Medium Enterprise Agency as well as that of the Organization for Small and Medium Enterprises and Regional Innovation

Business conditions DI

(1) All industries

For the January-March period of 2014, the business conditions DI for all industries was minus 11.1 (up 2.7 points from minus 13.8 for the previous quarter), proving a decrease in the negative margin.

The business conditions DI for manufacturing was minus 2.6 (up 4.1 points from minus 6.7 for the previous quarter), indicating a decrease in the negative margin. The business conditions DI for non-manufacturing was minus 14.0 (up 2.1 points from minus 16.1 for the previous quarter), showing a decrease in the negative margin.

Changes in the business conditions DI of small and medium-sized enterprises

Changes in the business conditions DI of small and medium-sized enterprises

(2) Manufacturing

The business conditions DI for manufacturing was minus 2.6 (up 4.1 points from minus 6.7 for the previous quarter), indicating a decrease in the negative margin and marking the highest level ever.

To be specific for the 14 industries in manufacturing, the DI remained positive with the positive margin increased for five industries, including 14.8 (up 12.8 points from the previous quarter) for Iron and steel and non-ferrous metals, and 9.2 (up 7.3 points from the previous quarter) for Furniture and fixtures. The DI rose from a negative value to a positive value for two industries: 10.9 (up 16.4 points from the previous quarter) for Chemical and allied products and 1.1 (up 8.9 points from the previous quarter) for Ceramic, stone and clay products. The DI remained negative with the negative margin decreased for four industries, including minus 1.5 (up 7.6 points from the previous quarter) for Miscellaneous manufacturing industries, and minus 19.2 (up 5.0 points from the previous quarter) for Printing. The DI remained negative with the negative margin increased for three industries: minus 19.1 (down 14.3 points from the previous quarter) for Pulp, paper and paper products; minus 16.9 (down 1.9 points from the previous quarter) for Food; and minus 1.4 (down 1.7 points from the previous quarter) for Transportation equipment.

Changes in the business conditions DI of small and medium-sized enterprisesby industry (1)
(From January-March, 2011 to January-March, 2014)

Changes in the business conditions DI of small and medium-sized enterprises by industry (1)

Changes in the business conditions DI of small and medium-sized enterprisesby industry (2)
(From January-March, 2011 to January-March, 2014)

Changes in the business conditions DI of small and medium-sized enterprises by industry (1)

(3) Non-manufacturing

The business conditions DI for non-manufacturing was minus 14.0 (up 2.1 points from minus 16.1 for the previous quarter), showing a decrease in the negative margin.

To be specific for industries, the DI remained positive with the positive margin increased for Construction: 3.9 (up 2.6 points from the previous quarter). The DI remained negative with the negative margin decreased for three industries: minus 6.7 (up 4.9 points from the previous quarter) for Wholesale trade, minus 14.7 (up 2.5 points from the previous quarter) for Services, and minus 25.1 (up 0.6 points from the previous quarter) for Retail trade.

Changes in the business conditions DI of small and medium-sized enterprises
by industry
(From January-March, 2011 to January-March, 2014)

Changes in the business conditions DI of small and medium-sized enterprises by industry

To be specific for sectors in Services, the DI remained positive with the positive margin increased for Information and communications and advertising: 3.1 (up 1.4 points from the previous quarter). The DI remained negative with the negative margin decreased for several sectors, including minus 21.7 (up 4.0 points from the previous quarter) for Personal services related with daily lives, minus 21.9 (up 2.6 points from the previous quarter) for Eating and drinking places, minus 6.0 (up 2.3 points from the previous quarter) for Services to business establishments including transportation and warehousing, and minus 14.0 (up 2.0 points from the previous quarter) for Personal services including automobile maintenance services and others. The DI remained negative with the negative margin increased for Services to business establishments including professional and technical services: minus 4.9 (down 0.8 points from the previous quarter).

Changes in the business conditions DI of small and medium-sized enterprises engaged
in services industries by industry
(From January-March, 2011 to January-March, 2014)

Changes in the business conditions DI of small and medium-sized enterprises engaged in services industries by industry

Changes in the business conditions DI of small and medium-sized enterprises by size of trade

Changes in the business conditions DI of small and medium-sized enterprises by size of trade

Financing DI

The financing DI for all industries was minus 12.2 (up 1.9 points from minus 14.1 for the previous quarter), indicating a decrease in the negative margin.

To be specific for industries, the DI remained negative with the negative margin decreased for both manufacturing and non-manufacturing: minus 8.9 (up 3.1 points from minus 12.0 for the previous quarter) and minus 13.2 (up 1.6 points from minus 14.8 for the previous quarter), respectively.

 

Changes in the business conditions DI of small and medium-sized enterprises by size of trade

Changes in the business conditions DI of small and medium-sized enterprises by size of trade

[Topics] Trends in the materials/goods purchase unit prices DI, the unit sales price/per-customer sales DI, and the profit (ordinary profit) DI

For the current quarter, the materials/goods purchase unit prices DI (“rise” minus “fall” on a year-on-year basis) was 39.4 (up 3.4 points from 36.0 for the previous quarter), showing an increase in the positive margin for the fifth straight quarter. Meanwhile, the unit sales price/per-customer sales DI (same as above) was minus 12.5 (up 2.4points from minus 14.9 for the previous quarter) and the profit (ordinary profit) DI (same as above) was minus 22.6 (up 2.5 points from minus 25.1 for the previous quarter), both showing a decrease in the negative margin. Under such circumstances, rises in materials prices, etc. due to a cheaper yen must be closely watched in the future.

The materials/goods purchase unit prices DI, the unit sales price/per-customer sales DI and the ordinary profit DI (on a year-on-year basis)

The materials/goods purchase unit prices DI, the unit sales price/per-customer sales DI and the ordinary profit DI (on a year-on-year basis)