BOJ Tankan Shows Business Sentiment Deteriorated

The Bank of Japan Tankan survey showed that Japanese manufacturers' business sentiment worsened for the first time in nearly two years in the last quarter of 2010. Business managers were concerned with the impacts of the surging yen and slowing overseas economies. The end of government subsidiaries for environmentally friendly vehicles and a down scaling of the government-led eco-point program have apparently been a blow to related industries. However, the decline was less than had been expected by many economists.