December 23, 2019 / 8:32 AM / a month ago

BOJ to revamp 'tankan' survey to add details on FX rates

FILE PHOTO : A security guard walks past in front of the Bank of Japan headquarters in Tokyo, Japan January 23, 2019. REUTERS/Issei Kato/File Photo

TOKYO (Reuters) - The Bank of Japan will make changes to its closely watched “tankan” quarterly survey starting from the next time it is due in March next year, the central bank said on Monday.

The move is aimed at providing markets more information on how globalization is affecting companies’ behavior.

From March 2020, the exchange rates component of the survey will be extended to cover all industries excluding financial institutions and holding companies, and cover euro-yen rates as well as dollar-yen rates.

The BOJ previously conducted the exchange rates survey only among large manufacturers and it was limited to dollar-yen rates.

Starting from March next year, the central bank will also release a summary of its survey on companies’ inflation expectations on the day the main survey is put out.

Another change the BOJ is making is that it will include a component on firms’ overseas business activity, beginning in June 2020.

For that, the BOJ will conduct a survey on actual results and forecasts of sales, overseas sales, current profits, fixed investment and overseas fixed investment on a consolidated basis among parent enterprises with capital of 1 billion yen ($9.1 million) or more.

($1 = 109.3700 yen)

Reporting by Daniel Leussink; Editing by Alison Williams

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