Q2 capex 4.6 yryr, seasonallyadjusted 3.9 qtrqtr
Manufacturers39; capex 13.7 yryr, nonmanufacturers flat
Firms39; Q2 recurring profit 17.6 yryr, sales 7.2 yryr
Q2 recurring profit 28.3 trln yen, biggest on record

TOKYO, Sept 1 Reuters Japanese companies increased spending on plant and equipment for a fifth straight quarter in AprilJune as business sentiment remained resilient despite rising costs, China39;s COVID lockdowns and supply chain disruptions.

Robust corporate spending is offering some encouragement for Japan39;s growth outlook even as a global economic slowdown and domestic COVID19 flareups threaten to weigh on nearterm demand.

While the level of capital expenditure is not overly strong compared to prepandemic times, companies finally started to boost spending that were kept during the past two years, thanks to an eased COVID19 situation, said Takeshi Minami, chief economist at Norinchukin Research Institute.

Capital expenditure in the second quarter rose 4.6 from the same period last year, Ministry of Finance MOF data showed on Thursday.

The pace of spending picked up from a 3.0 yearonyear increase in the first three months of this year.

The data will be used to calculate revised gross domestic product GDP figures due on Sept. 8. A preliminary estimate last month showed the world39;s thirdlargest economy expanded 2.2 in the second quarter. 

Thursday39;s solid data may bring Japan39;s revised AprilJune GDP growth slightly upward, up to an annualised…