The Bank of Japan's Tankan = Corporate Short-term Economic Observation Survey announced on the 13th revealed that companies have not fully passed on the rise in purchasing prices due to soaring raw materials to the selling prices of products.
In this short view, the index showing trends in the purchase price of raw materials, etc., was +49, which is 12 points higher than the previous survey in September in the manufacturing industry of large companies.
This indicates that the purchase price is on the rise in a wide range of companies due to the soaring price of crude oil, which is the highest level in about 13 years since September 2008.
Also, in the non-manufacturing industry of large companies, the index showing the trend of purchase prices increased by 8 points to +25.
On the other hand, the indexes showing trends in "selling prices" of products and services were
▽ manufacturing industry of large companies +16 and
▽ non-manufacturing industry +10.
In each case, the amount of increase was small compared to the purchase price, and it became clear that the increase in the purchase price was not fully passed on to the selling price.
If the pass-through does not proceed and the profits of the company are squeezed, wages may be affected.
The index showing economic judgment has continued to improve after the survey in June last year, but the outlook three months from now is expected to deteriorate in both manufacturing and non-manufacturing industries.
In addition, the impact of Omicron stocks on economic activity is uncertain, so the outlook is becoming more cautious.