Japan Corporate Capital Expenditure (MOF)

Investment in plant and equipment including and excluding software, and increases in inventories by type.

Source: 財務省財務総合政策研究所「法人企業統計調査（四半期別）」Last updated: Sep 24, 2026, 15:19Curated by Bui Thanh PhucAbout this data ↓

Indicator	Q2-2026	Q1-2026	Q4-2025	Q3-2025	Q2-2025	Q1-2025	Q4-2024	Q3-2024	Q2-2024	Q1-2024	Q4-2023	Q3-2023	Q2-2023
Investment in plant and equipment (including software)9	130,250.13	188,063.9	153,865.4	138,063.16	128,213.63	187,975.12	144,518	134,110.03	119,161.42	176,627.87	144,823.2	124,078.97	110,927.46
Capital of 1 billion yen or more	73,767.24	115,834.05	86,397.71	77,710.55	71,481.86	114,851.64	79,322.25	75,189.3	65,660.86	109,566.52	82,982.57	68,143.99	57,823.58
Capital of 100 million to 1 billion yen	25,055.63	35,237.91	29,755.92	27,172.8	25,593.63	37,159.82	28,692.47	27,478.59	24,728.63	31,931.88	26,800.87	24,445.36	22,995.07
Capital of 10 to 100 million yen	31,427.26	36,991.94	37,711.77	33,179.81	31,138.14	35,963.66	36,503.28	31,442.14	28,771.93	35,129.47	35,039.76	31,489.62	30,108.81
Manufacturing3	46,022.49	61,980.91	52,457.68	49,553.69	47,777.62	62,251.69	52,442.26	48,888.22	41,044.17	59,745.83	52,022.85	44,749.05	40,472.42
Capital of 1 billion yen or more	29,195.13	41,802.01	34,041.79	31,946.92	30,163.76	41,403.67	32,705.75	31,750.3	26,731.05	40,850.53	34,444.35	28,273.99	25,679.26
Capital of 100 million to 1 billion yen	8,696.45	10,823.36	9,628.05	9,450.13	9,404.71	11,361	10,123.89	9,274.28	7,720.38	10,656.42	8,994.42	8,443.39	7,567.42
Capital of 10 to 100 million yen	8,130.91	9,355.54	8,787.84	8,156.64	8,209.15	9,487.02	9,612.62	7,863.64	6,592.74	8,238.88	8,584.08	8,031.67	7,225.74
Non-manufacturing3	84,227.64	126,082.99	101,407.72	88,509.47	80,436.01	125,723.43	92,075.74	85,221.81	78,117.25	116,882.04	92,800.35	79,329.92	70,455.04
Capital of 1 billion yen or more	44,572.11	74,032.04	52,355.92	45,763.63	41,318.1	73,447.97	46,616.5	43,439	38,929.81	68,715.99	48,538.22	39,870	32,144.32
Capital of 100 million to 1 billion yen	16,359.18	24,414.55	20,127.87	17,722.67	16,188.92	25,798.82	18,568.58	18,204.31	17,008.25	21,275.46	17,806.45	16,001.97	15,427.65
Capital of 10 to 100 million yen	23,296.35	27,636.4	28,923.93	25,023.17	22,928.99	26,476.64	26,890.66	23,578.5	22,179.19	26,890.59	26,455.68	23,457.95	22,883.07
All industries (including finance and insurance)	137,908.66	200,299.06	162,380.71	146,535.24	136,016.27	199,121.25	152,326.65	141,890.57	126,345.47	186,679.83	152,192.65	131,634.41	117,104.55
Finance and insurance	7,658.53	12,235.16	8,515.31	8,472.08	7,802.64	11,146.13	7,808.65	7,780.54	7,184.05	10,051.96	7,369.45	7,555.44	6,177.09
Investment in software7	15,109.22	22,402.22	17,442.93	15,837.96	17,115.76	19,970.8	17,395.77	15,274.69	13,576.52	19,416.93	21,500.06	15,562.22	14,192.45
Capital of 1 billion yen or more	10,021.06	13,869.76	11,100.4	9,983.17	10,339.72	13,309.2	11,331.46	9,591.63	8,808.23	12,126.77	14,477.98	9,137.03	8,750.26
Capital of 100 million to 1 billion yen	3,202.33	4,634.92	3,404.69	3,637.86	3,304.23	4,548.17	3,592.02	3,428.27	2,884.49	4,190.85	3,695.36	3,756.54	3,071.66
Capital of 10 to 100 million yen	1,885.83	3,897.54	2,937.84	2,216.93	3,471.81	2,113.43	2,472.29	2,254.79	1,883.8	3,099.31	3,326.72	2,668.65	2,370.53
Manufacturing3	4,372.96	6,694.1	5,000.85	4,464.45	4,594.84	6,276.58	5,104.49	4,661.51	4,132.2	5,415.65	4,893.71	4,428.43	4,514.88
Capital of 1 billion yen or more	3,696.58	5,254.58	4,148.3	3,658.18	3,590.24	5,196.85	4,093.78	3,696.14	3,401.97	4,426.95	4,086.06	3,564.94	3,613.23
Capital of 100 million to 1 billion yen	487.36	800.77	590.02	546.15	577.8	775.65	636.26	560.76	509.8	634.27	581.51	627.02	501.59
Capital of 10 to 100 million yen	189.02	638.75	262.53	260.12	426.8	304.08	374.45	404.61	220.43	354.43	226.14	236.47	400.06
Non-manufacturing3	10,736.26	15,708.12	12,442.08	11,373.51	12,520.92	13,694.22	12,291.28	10,613.18	9,444.32	14,001.28	16,606.35	11,133.79	9,677.57
Capital of 1 billion yen or more	6,324.48	8,615.18	6,952.1	6,324.99	6,749.48	8,112.35	7,237.68	5,895.49	5,406.26	7,699.82	10,391.92	5,572.09	5,137.03
Capital of 100 million to 1 billion yen	2,714.97	3,834.15	2,814.67	3,091.71	2,726.43	3,772.52	2,955.76	2,867.51	2,374.69	3,556.58	3,113.85	3,129.52	2,570.07
Capital of 10 to 100 million yen	1,696.81	3,258.79	2,675.31	1,956.81	3,045.01	1,809.35	2,097.84	1,850.18	1,663.37	2,744.88	3,100.58	2,432.18	1,970.47
All industries (including finance and insurance)	20,151	28,866.86	22,403.47	21,048.38	21,691.42	26,060.4	22,403.15	20,211.1	18,021.18	25,032.79	25,902.26	20,354.97	18,227.17
Finance and insurance	5,041.78	6,464.64	4,960.54	5,210.42	4,575.66	6,089.6	5,007.38	4,936.41	4,444.66	5,615.86	4,402.2	4,792.75	4,034.72
Investment in plant and equipment (excluding software)7	115,140.91	165,661.68	136,422.47	122,225.2	111,097.87	168,004.32	127,122.23	118,835.34	105,584.9	157,210.94	123,323.14	108,516.75	96,735.01
Capital of 1 billion yen or more	63,746.18	101,964.29	75,297.31	67,727.38	61,142.14	101,542.44	67,990.79	65,597.67	56,852.63	97,439.75	68,504.59	59,006.96	49,073.32
Capital of 100 million to 1 billion yen	21,853.3	30,602.99	26,351.23	23,534.94	22,289.4	32,611.65	25,100.45	24,050.32	21,844.14	27,741.03	23,105.51	20,688.82	19,923.41
Capital of 10 to 100 million yen	29,541.43	33,094.4	34,773.93	30,962.88	27,666.33	33,850.23	34,030.99	29,187.35	26,888.13	32,030.16	31,713.04	28,820.97	27,738.28
Manufacturing3	41,649.53	55,286.81	47,456.83	45,089.24	43,182.78	55,975.11	47,337.77	44,226.71	36,911.97	54,330.18	47,129.14	40,320.62	35,957.54
Capital of 1 billion yen or more	25,498.55	36,547.43	29,893.49	28,288.74	26,573.52	36,206.82	28,611.97	28,054.16	23,329.08	36,423.58	30,358.29	24,709.05	22,066.03
Capital of 100 million to 1 billion yen	8,209.09	10,022.59	9,038.03	8,903.98	8,826.91	10,585.35	9,487.63	8,713.52	7,210.58	10,022.15	8,412.91	7,816.37	7,065.83
Capital of 10 to 100 million yen	7,941.89	8,716.79	8,525.31	7,896.52	7,782.35	9,182.94	9,238.17	7,459.03	6,372.31	7,884.45	8,357.94	7,795.2	6,825.68
Non-manufacturing3	73,491.38	110,374.87	88,965.64	77,135.96	67,915.09	112,029.21	79,784.46	74,608.63	68,672.93	102,880.76	76,194	68,196.13	60,777.47
Capital of 1 billion yen or more	38,247.63	65,416.86	45,403.82	39,438.64	34,568.62	65,335.62	39,378.82	37,543.51	33,523.55	61,016.17	38,146.3	34,297.91	27,007.29
Capital of 100 million to 1 billion yen	13,644.21	20,580.4	17,313.2	14,630.96	13,462.49	22,026.3	15,612.82	15,336.8	14,633.56	17,718.88	14,692.6	12,872.45	12,857.58
Capital of 10 to 100 million yen	21,599.54	24,377.61	26,248.62	23,066.36	19,883.98	24,667.29	24,792.82	21,728.32	20,515.82	24,145.71	23,355.1	21,025.77	20,912.6
All industries (including finance and insurance)	117,757.66	171,432.2	139,977.24	125,486.86	114,324.85	173,060.85	129,923.5	121,679.47	108,324.29	161,647.04	126,290.39	111,279.44	98,877.38
Finance and insurance	2,616.75	5,770.52	3,554.77	3,261.66	3,226.98	5,056.53	2,801.27	2,844.13	2,739.39	4,436.1	2,967.25	2,762.69	2,142.37
Increase in inventories8	86,172.4	-14,368.78	56,586.91	31,645.22	27,234.18	-32,126.97	52,249.49	16,605.93	42,823.5	-48,432.39	46,495.34	25,963.72	53,229.32
Capital of 1 billion yen or more	57,646.94	-175.15	19,874.54	14,008.13	16,884.14	-12,201.01	14,534.79	8,160.54	28,800.02	-15,236.47	14,400.08	12,797.32	18,918.24
Capital of 100 million to 1 billion yen	24,025.16	-13,806.17	12,338.17	10,949.11	10,479.78	-13,825.29	17,950.8	4,367.14	10,879.35	-13,185.88	11,343.06	6,188.51	17,989.82
Capital of 10 to 100 million yen	4,500.3	-387.46	24,374.2	6,687.98	-129.74	-6,100.67	19,763.9	4,078.25	3,144.13	-20,010.04	20,752.2	6,977.89	16,321.26
Manufacturing3	48,392.24	-721.8	2,101.26	9,513.92	12,891.03	-10,709.98	2,336.35	2,108.05	23,224.4	-10,822.44	2,853.68	3,975.1	21,991.62
Capital of 1 billion yen or more	32,288.68	-253.69	1,503.19	5,849.46	8,355.16	-8,884.45	481.56	232.89	16,386.96	-5,572.14	534.65	3,341.14	12,187.1
Capital of 100 million to 1 billion yen	9,623.52	-1,550.55	-433.25	1,464.75	2,863.48	-2,549.93	586.72	957.79	4,619.49	-4,277.57	527.84	928.53	6,969.9
Capital of 10 to 100 million yen	6,480.04	1,082.44	1,031.32	2,199.71	1,672.39	724.4	1,268.07	917.37	2,217.95	-972.73	1,791.19	-294.57	2,834.62
Non-manufacturing3	37,780.16	-13,646.98	54,485.65	22,131.3	14,343.15	-21,416.99	49,913.14	14,497.88	19,599.1	-37,609.95	43,641.66	21,988.62	31,237.7
Capital of 1 billion yen or more	25,358.26	78.54	18,371.35	8,158.67	8,528.98	-3,316.56	14,053.23	7,927.65	12,413.06	-9,664.33	13,865.43	9,456.18	6,731.14
Capital of 100 million to 1 billion yen	14,401.64	-12,255.62	12,771.42	9,484.36	7,616.3	-11,275.36	17,364.08	3,409.35	6,259.86	-8,908.31	10,815.22	5,259.98	11,019.92
Capital of 10 to 100 million yen	-1,979.74	-1,469.9	23,342.88	4,488.27	-1,802.13	-6,825.07	18,495.83	3,160.88	926.18	-19,037.31	18,961.01	7,272.46	13,486.64
Increase in finished goods and merchandise5	29,399.12	-1,152.12	20,238.34	18,021.09	15,536.91	-7,285.34	22,116.55	-3,090.8	22,568.93	-15,871.64	19,325.24	11,678.93	29,362.27
Capital of 1 billion yen or more	17,895.88	3,792.75	7,070.1	5,707.1	7,368.98	637.15	5,838.72	1,151.34	12,017.05	-3,705.45	5,430.41	5,875.51	7,653.57
Capital of 100 million to 1 billion yen	11,629.59	-6,858.66	4,134.74	7,071.68	5,918.58	-4,863.48	9,696.96	1,224.85	5,016.19	-1,582.8	4,484.67	2,664.85	8,943.42
Capital of 10 to 100 million yen	-126.35	1,913.79	9,033.5	5,242.31	2,249.35	-3,059.01	6,580.87	-5,466.99	5,535.69	-10,583.39	9,410.16	3,138.57	12,765.28
Manufacturing3	14,400.89	1,257.31	-4,874.89	2,701.66	5,809.08	-535.45	-3,397.5	-2,996.18	10,134.82	-302.67	-2,073.14	-1,452.09	10,407.18
Capital of 1 billion yen or more	11,053.04	-315.09	-3,366.98	1,556.14	3,336.73	-1,560.95	-2,557.83	-1,451.66	7,698.48	52.42	-3,108.41	-304.47	5,819.1
Capital of 100 million to 1 billion yen	1,982.24	-125.81	-501.97	274.78	1,606.39	-473.82	244.91	-607.56	1,608.12	-1,077.96	-417.9	-47.22	2,357.03
Capital of 10 to 100 million yen	1,365.61	1,698.21	-1,005.94	870.74	865.96	1,499.32	-1,084.58	-936.96	828.22	722.87	1,453.17	-1,100.4	2,231.05
Non-manufacturing3	14,998.23	-2,409.43	25,113.23	15,319.43	9,727.83	-6,749.89	25,514.05	-94.62	12,434.11	-15,568.97	21,398.38	13,131.02	18,955.09
Capital of 1 billion yen or more	6,842.84	4,107.84	10,437.08	4,150.96	4,032.25	2,198.1	8,396.55	2,603	4,318.57	-3,757.87	8,538.82	6,179.98	1,834.47
Capital of 100 million to 1 billion yen	9,647.35	-6,732.85	4,636.71	6,796.9	4,312.19	-4,389.66	9,452.05	1,832.41	3,408.07	-504.84	4,902.57	2,712.07	6,586.39
Capital of 10 to 100 million yen	-1,491.96	215.58	10,039.44	4,371.57	1,383.39	-4,558.33	7,665.45	-4,530.03	4,707.47	-11,306.26	7,956.99	4,238.97	10,534.23
Increase in work in process5	28,037.82	-17,594.04	28,948.41	12,159.76	9,907.92	-19,643.84	24,045.63	20,358.52	11,153.28	-22,774.47	23,342.15	11,278.42	18,984.57
Capital of 1 billion yen or more	19,095.14	-7,598.42	5,844.17	8,574.44	10,127.47	-9,518.11	5,117.59	9,396.72	10,475.9	-5,155.68	5,892.42	6,188.02	8,843.95
Capital of 100 million to 1 billion yen	7,624.78	-6,215.97	7,600.98	3,288.8	2,211.83	-8,668.11	8,263.53	3,491.19	4,128.36	-10,492.54	6,000.63	947.88	6,404.5
Capital of 10 to 100 million yen	1,317.9	-3,779.65	15,503.26	296.52	-2,431.38	-1,457.62	10,664.51	7,470.61	-3,450.98	-7,126.25	11,449.1	4,142.52	3,736.12
Manufacturing3	15,983.16	-6,821.53	3,951.9	3,968.75	8,372.36	-7,081.54	3,117.88	5,237.28	8,639.55	-5,511.6	2,801.78	2,938.56	6,958.14
Capital of 1 billion yen or more	9,989.34	-4,215.18	1,274.84	2,819.21	6,130.88	-4,955.19	1,506.02	2,669.69	5,753.71	-2,744.19	2,275.35	1,591.53	3,609.06
Capital of 100 million to 1 billion yen	3,435.25	-1,060.05	270.44	984.43	1,191.04	-1,880.93	463.89	1,705.24	1,791.66	-2,478.2	419.06	425.78	2,282.24
Capital of 10 to 100 million yen	2,558.57	-1,546.3	2,406.62	165.11	1,050.44	-245.42	1,147.97	862.35	1,094.18	-289.21	107.37	921.25	1,066.84
Non-manufacturing3	12,054.66	-10,772.51	24,996.51	8,191.01	1,535.56	-12,562.3	20,927.75	15,121.24	2,513.73	-17,262.87	20,540.37	8,339.86	12,026.43
Capital of 1 billion yen or more	9,105.8	-3,383.24	4,569.33	5,755.23	3,996.59	-4,562.92	3,611.57	6,727.03	4,722.19	-2,411.49	3,617.07	4,596.49	5,234.89
Capital of 100 million to 1 billion yen	4,189.53	-5,155.92	7,330.54	2,304.37	1,020.79	-6,787.18	7,799.64	1,785.95	2,336.7	-8,014.34	5,581.57	522.1	4,122.26
Capital of 10 to 100 million yen	-1,240.67	-2,233.35	13,096.64	131.41	-3,481.82	-1,212.2	9,516.54	6,608.26	-4,545.16	-6,837.04	11,341.73	3,221.27	2,669.28
Increase in raw materials and supplies5	28,735.46	4,377.38	7,400.16	1,464.37	1,789.35	-5,197.79	6,087.31	-661.79	9,101.29	-9,786.28	3,827.95	3,006.37	4,882.48
Capital of 1 billion yen or more	20,655.92	3,630.52	6,960.27	-273.41	-612.31	-3,320.05	3,578.48	-2,387.52	6,307.07	-6,375.34	3,077.25	733.79	2,420.72
Capital of 100 million to 1 billion yen	4,770.79	-731.54	602.45	588.63	2,349.37	-293.7	-9.69	-348.9	1,734.8	-1,110.54	857.76	2,575.78	2,641.9
Capital of 10 to 100 million yen	3,308.75	1,478.4	-162.56	1,149.15	52.29	-1,584.04	2,518.52	2,074.63	1,059.42	-2,300.4	-107.06	-303.2	-180.14
Manufacturing3	18,008.19	4,842.42	3,024.25	2,843.51	-1,290.41	-3,092.99	2,615.97	-133.05	4,450.03	-5,008.17	2,125.04	2,488.63	4,626.3
Capital of 1 billion yen or more	11,246.3	4,276.58	3,595.33	1,474.11	-1,112.45	-2,368.31	1,533.37	-985.14	2,934.77	-2,880.37	1,367.71	2,054.08	2,758.94
Capital of 100 million to 1 billion yen	4,206.03	-364.69	-201.72	205.54	66.05	-195.18	-122.08	-139.89	1,219.71	-721.41	526.68	549.97	2,330.63
Capital of 10 to 100 million yen	2,555.86	930.53	-369.36	1,163.86	-244.01	-529.5	1,204.68	991.98	295.55	-1,406.39	230.65	-115.42	-463.27
Non-manufacturing3	10,727.27	-465.04	4,375.91	-1,379.14	3,079.76	-2,104.8	3,471.34	-528.74	4,651.26	-4,778.11	1,702.91	517.74	256.18
Capital of 1 billion yen or more	9,409.62	-646.06	3,364.94	-1,747.52	500.14	-951.74	2,045.11	-1,402.38	3,372.3	-3,494.97	1,709.54	-1,320.29	-338.22
Capital of 100 million to 1 billion yen	564.76	-366.85	804.17	383.09	2,283.32	-98.52	112.39	-209.01	515.09	-389.13	331.08	2,025.81	311.27
Capital of 10 to 100 million yen	752.89	547.87	206.8	-14.71	296.3	-1,054.54	1,313.84	1,082.65	763.87	-894.01	-337.71	-187.78	283.13

Latest reading

The latest reading is 130,250.13 100 million yen, for Q2 2026. That is −30.7% from Q1 2026 and +1.6% from a year earlier. The series on this page is quarterly and runs from Q3 2001 to Q2 2026.

Latest: 130,250.13 100 million yen; Q2 2026
vs previous period: −30.7%; Q1 2026
vs a year earlier: +1.6%

About this data

Investment in plant and equipment including and excluding software, and increases in inventories by type. From the Ministry of Finance's quarterly Financial Statements Statistics of Corporations by Industry — a sample survey of for-profit corporations with paid-up capital of 10 million yen or more — as a continuous series from April-June 1954. Each item is broken down into manufacturing and non-manufacturing and into three capital-size classes; all-industry figures exclude finance and insurance, which are shown separately from April-June 2008 where published.