Japan's Business Sentiment Rises for Sixth Straight Quarter

The Bank of Japan's quarterly 'tankan' survey has reported a rise in business sentiment among large manufacturers, marking the sixth consecutive quarter of improvement. The key indicator rose to 24 from 22.

Despite widespread challenges facing Japanese society, including soaring oil prices and the ongoing war in Iran that has closed the Strait of Hormuz, companies are foreseeing good conditions minus those feeling pessimistic.

The survey also showed that large non-manufacturers' sentiment fell to 35 from 37. The Bank of Japan raised its benchmark interest rate twice this year to 1.25%, a three-decade high, in June and September to address challenges stemming from a weak Japanese yen and higher prices.