3Q Capital expenditures for Japan

  • Capital spending for 3Q YoY 4.2% versus 3.2% estimate. Last quarter 1.5%
  • Capital spending Ex software 3Q YoY 4.3% versus 3.1% estimate. Last quarter 0.6%.
  • company profits 3Q 5.5% versus 18.4% estimate. Last quarter 22.6%. Profits are down sharply
  • company sales 3Q 4.8% versus 6.7% last. Sales are down from the 2Q

Capital spending for the headline number and ex software are encouraging. However, the profit and sales numbers for the third quarter were somewhat light.

There is little reaction in the USDJPY. It trades at 112.60, with a day high of 112.70 and a low print of 112.53.