Non-Manufacturing PMI in Japan remained unchanged at 34 points in the fourth quarter of 2025, the same as in the previous two quarters, below market forecasts of 35. Non Manufacturing PMI in Japan averaged 7.26 points from 1983 until 2025, reaching an all time high of 57.00 points in the third quarter of 1990 and a record low of -41.00 points in the fourth quarter of 1998. source: Bank of Japan

Non Manufacturing PMI in Japan remained unchanged at 34 points in the fourth quarter of 2025 from 34 points in the third quarter of 2025.

Non Manufacturing PMI in Japan remained unchanged at 34 points in the fourth quarter of 2025 from 34 points in the third quarter of 2025. Non Manufacturing PMI in Japan is expected to be 36.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Tankan Index For Large Non Manufacturing Companies is projected to trend around 45.00 points in 2026 and 46.00 points in 2027, according to our econometric models.



Related Last Previous Unit Reference
Tankan Large Manufacturers Index 15.00 14.00 points Dec 2025
Tankan Small Manufacturers Index 6.00 1.00 points Dec 2025
Tankan Large All Industry Capex 12.60 12.50 percent Dec 2025
Tankan Large Manufacturing Outlook 15.00 12.00 points Dec 2025
Tankan Non-Manufacturing Outlook 28.00 28.00 points Dec 2025


Japan Tankan Index For Large Non Manufacturing Companies
In Japan, the quarterly Tankan Survey of Business Conditions for Large Non-Manufacturers covers about 1,050 companies with capital over 1 billion Yen, operating in the non-manufacturing sector. The survey is done by mail or e-mail and asks participants to evaluate current trends and conditions in the business place and their respective industries as well as their expected business activities for the next quarter and year. The indicator is calculated by subtracting the percentage share of enterprises responding on the negative side from the share giving positive assessments. The index varies on a scale of -100 to 100 such that a value above zero indicates business optimism, a value below zero pessimism and 0 indicates neutrality.