Japan Corporate Financial Ratios (MOF)
Number of corporations in the survey population, interest paid relative to borrowings, the liquidity ratio and the turnover period of trade receivables.
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Number of corporations (population)7 | 876,607 | 883,856 | 884,050 | 884,375 | 884,833 | 891,936 | 892,129 | 892,310 | 892,474 | 900,793 | 900,986 | 901,341 | 901,552 | |
| Capital of 1 billion yen or more | 4,601 | 4,574 | 4,604 | 4,620 | 4,667 | 4,635 | 4,699 | 4,720 | 4,752 | 4,690 | 4,755 | 4,792 | 4,807 | |
| Capital of 100 million to 1 billion yen | 27,041 | 26,311 | 26,475 | 26,784 | 27,195 | 26,428 | 26,557 | 26,717 | 26,849 | 26,158 | 26,286 | 26,604 | 26,800 | |
| Capital of 10 to 100 million yen | 844,965 | 852,971 | 852,971 | 852,971 | 852,971 | 860,873 | 860,873 | 860,873 | 860,873 | 869,945 | 869,945 | 869,945 | 869,945 | |
| Manufacturing3 | 138,947 | 141,303 | 141,345 | 141,428 | 141,501 | 143,680 | 143,718 | 143,760 | 143,784 | 145,996 | 146,029 | 146,082 | 146,120 | |
| Capital of 1 billion yen or more | 1,732 | 1,731 | 1,744 | 1,747 | 1,759 | 1,760 | 1,777 | 1,786 | 1,794 | 1,786 | 1,814 | 1,830 | 1,827 | |
| Capital of 100 million to 1 billion yen | 5,978 | 5,906 | 5,935 | 6,015 | 6,076 | 6,010 | 6,031 | 6,064 | 6,080 | 6,022 | 6,027 | 6,064 | 6,105 | |
| Capital of 10 to 100 million yen | 131,237 | 133,666 | 133,666 | 133,666 | 133,666 | 135,910 | 135,910 | 135,910 | 135,910 | 138,188 | 138,188 | 138,188 | 138,188 | |
| Non-manufacturing3 | 737,660 | 742,553 | 742,705 | 742,947 | 743,332 | 748,256 | 748,411 | 748,550 | 748,690 | 754,797 | 754,957 | 755,259 | 755,432 | |
| Capital of 1 billion yen or more | 2,869 | 2,843 | 2,860 | 2,873 | 2,908 | 2,875 | 2,922 | 2,934 | 2,958 | 2,904 | 2,941 | 2,962 | 2,980 | |
| Capital of 100 million to 1 billion yen | 21,063 | 20,405 | 20,540 | 20,769 | 21,119 | 20,418 | 20,526 | 20,653 | 20,769 | 20,136 | 20,259 | 20,540 | 20,695 | |
| Capital of 10 to 100 million yen | 713,728 | 719,305 | 719,305 | 719,305 | 719,305 | 724,963 | 724,963 | 724,963 | 724,963 | 731,757 | 731,757 | 731,757 | 731,757 | |
| All industries (including finance and insurance) | 887,126 | 894,152 | 894,500 | 895,014 | 895,597 | 902,389 | 902,650 | 902,937 | 903,216 | 911,498 | 911,775 | 912,392 | 912,775 | |
| Finance and insurance | 10,519 | 10,296 | 10,450 | 10,639 | 10,764 | 10,453 | 10,521 | 10,627 | 10,742 | 10,705 | 10,789 | 11,051 | 11,223 | |
| Ratio of interest to borrowings5 | 1.6 | 1.6 | 1.5 | 1.4 | 1.3 | 1.3 | 1.2 | 1.2 | 1.2 | 1.2 | 1.2 | 1.1 | 1 | |
| Capital of 1 billion yen or more | 1.6 | 1.6 | 1.6 | 1.4 | 1.4 | 1.3 | 1.3 | 1.2 | 1.2 | 1.2 | 1.2 | 1.1 | 1.1 | |
| Capital of 100 million to 1 billion yen | 1.7 | 1.7 | 1.5 | 1.5 | 1.5 | 1.5 | 1.4 | 1.4 | 1.2 | 1.2 | 1.2 | 1.4 | 1.1 | |
| Capital of 10 to 100 million yen | 1.4 | 1.5 | 1.2 | 1.3 | 1.2 | 1.2 | 1.1 | 1.1 | 0.9 | 1.2 | 1.1 | 0.9 | 1 | |
| Manufacturing3 | 1.9 | 1.9 | 2.2 | 1.7 | 1.6 | 1.6 | 1.4 | 1.4 | 1.4 | 1.2 | 1.6 | 1.2 | 1.2 | |
| Capital of 1 billion yen or more | 2 | 2.1 | 2.7 | 1.7 | 1.6 | 1.7 | 1.5 | 1.5 | 1.6 | 1.3 | 1.9 | 1.2 | 1.1 | |
| Capital of 100 million to 1 billion yen | 2.2 | 1.7 | 1.6 | 2 | 2.1 | 1.6 | 1.5 | 1.3 | 1.4 | 1.4 | 1.6 | 1.3 | 1.3 | |
| Capital of 10 to 100 million yen | 1.3 | 1.4 | 1.2 | 1.3 | 1.2 | 1.1 | 1 | 1.1 | 0.9 | 0.9 | 1 | 0.9 | 1.1 | |
| Non-manufacturing3 | 1.5 | 1.5 | 1.3 | 1.3 | 1.3 | 1.3 | 1.2 | 1.2 | 1.1 | 1.2 | 1.1 | 1.1 | 1 | |
| Capital of 1 billion yen or more | 1.5 | 1.5 | 1.4 | 1.4 | 1.3 | 1.2 | 1.2 | 1.2 | 1.2 | 1.2 | 1 | 1.1 | 1 | |
| Capital of 100 million to 1 billion yen | 1.5 | 1.7 | 1.5 | 1.4 | 1.4 | 1.4 | 1.3 | 1.4 | 1.2 | 1.2 | 1 | 1.4 | 1 | |
| Capital of 10 to 100 million yen | 1.5 | 1.6 | 1.2 | 1.3 | 1.2 | 1.2 | 1.1 | 1.1 | 1 | 1.2 | 1.1 | 0.9 | 1 | |
| Liquidity ratio5 | 19.5 | 18.3 | 18.6 | 19.3 | 19.4 | 17.9 | 18.3 | 19 | 19.7 | 18.6 | 18.1 | 19.1 | 19.3 | |
| Capital of 1 billion yen or more | 14.7 | 14.5 | 14.9 | 15.1 | 15.2 | 14 | 14.3 | 15 | 15.6 | 15 | 14 | 15.1 | 15.3 | |
| Capital of 100 million to 1 billion yen | 13.5 | 12 | 12.2 | 12.7 | 13.4 | 12 | 11.9 | 12.4 | 13.3 | 12.2 | 11.9 | 12.6 | 13.3 | |
| Capital of 10 to 100 million yen | 28.8 | 26.7 | 26.5 | 28.6 | 28 | 26.4 | 26.8 | 28.3 | 28.8 | 26.4 | 26.8 | 28.1 | 27.8 | |
| Manufacturing3 | 18.4 | 17.7 | 17.7 | 18.2 | 18.3 | 17.7 | 17.1 | 17.6 | 18.3 | 17.5 | 15.7 | 16.6 | 17 | |
| Capital of 1 billion yen or more | 16 | 15.2 | 15.6 | 16.2 | 16.6 | 15.2 | 14.7 | 15.5 | 16.4 | 15.2 | 13.7 | 13.8 | 14.3 | |
| Capital of 100 million to 1 billion yen | 13.4 | 12.7 | 12.1 | 12.5 | 12.4 | 13 | 11.5 | 11.9 | 12.1 | 12.5 | 11.1 | 12.5 | 12.1 | |
| Capital of 10 to 100 million yen | 29.3 | 28.4 | 26.6 | 27.6 | 27 | 28.1 | 27.6 | 27 | 27.7 | 27.2 | 24.3 | 27 | 27.1 | |
| Non-manufacturing3 | 20 | 18.6 | 19 | 19.8 | 19.8 | 18.1 | 18.8 | 19.7 | 20.4 | 19 | 19.1 | 20.2 | 20.3 | |
| Capital of 1 billion yen or more | 13.8 | 13.9 | 14.4 | 14.3 | 14.2 | 13.1 | 14.1 | 14.6 | 15 | 14.8 | 14.3 | 16 | 16 | |
| Capital of 100 million to 1 billion yen | 13.5 | 11.8 | 12.2 | 12.7 | 13.7 | 11.8 | 12 | 12.6 | 13.7 | 12.1 | 12.1 | 12.7 | 13.6 | |
| Capital of 10 to 100 million yen | 28.7 | 26.3 | 26.5 | 28.8 | 28.3 | 26 | 26.6 | 28.6 | 29.1 | 26.2 | 27.5 | 28.4 | 28 | |
| Trade receivables to monthly sales5 | 1.82 | 1.87 | 1.84 | 1.82 | 1.94 | 1.92 | 1.86 | 1.89 | 2.02 | 1.95 | 1.91 | 1.9 | 2 | |
| Capital of 1 billion yen or more | 2.17 | 2.24 | 2.25 | 2.18 | 2.27 | 2.27 | 2.2 | 2.23 | 2.31 | 2.32 | 2.28 | 2.26 | 2.31 | |
| Capital of 100 million to 1 billion yen | 1.82 | 1.89 | 1.83 | 1.82 | 1.96 | 1.94 | 1.86 | 1.86 | 2.05 | 1.96 | 1.84 | 1.83 | 1.98 | |
| Capital of 10 to 100 million yen | 1.4 | 1.44 | 1.39 | 1.39 | 1.54 | 1.5 | 1.47 | 1.52 | 1.66 | 1.54 | 1.53 | 1.54 | 1.66 | |
| Manufacturing3 | 2.15 | 2.19 | 2.14 | 2.16 | 2.27 | 2.3 | 2.21 | 2.23 | 2.37 | 2.42 | 2.24 | 2.3 | 2.41 | |
| Capital of 1 billion yen or more | 2.29 | 2.29 | 2.28 | 2.28 | 2.41 | 2.38 | 2.3 | 2.35 | 2.51 | 2.51 | 2.39 | 2.39 | 2.5 | |
| Capital of 100 million to 1 billion yen | 2.16 | 2.19 | 2.06 | 2.11 | 2.23 | 2.28 | 2.13 | 2.17 | 2.35 | 2.42 | 2.12 | 2.26 | 2.34 | |
| Capital of 10 to 100 million yen | 1.75 | 1.94 | 1.87 | 1.92 | 1.96 | 2.11 | 2.06 | 1.97 | 2.06 | 2.21 | 1.98 | 2.07 | 2.24 | |
| Non-manufacturing3 | 1.67 | 1.73 | 1.7 | 1.67 | 1.8 | 1.76 | 1.71 | 1.75 | 1.87 | 1.76 | 1.77 | 1.73 | 1.83 | |
| Capital of 1 billion yen or more | 2.07 | 2.19 | 2.22 | 2.11 | 2.17 | 2.2 | 2.13 | 2.15 | 2.17 | 2.19 | 2.2 | 2.15 | 2.18 | |
| Capital of 100 million to 1 billion yen | 1.7 | 1.8 | 1.76 | 1.73 | 1.87 | 1.83 | 1.78 | 1.76 | 1.95 | 1.83 | 1.75 | 1.7 | 1.87 | |
| Capital of 10 to 100 million yen | 1.32 | 1.33 | 1.28 | 1.26 | 1.43 | 1.37 | 1.33 | 1.41 | 1.57 | 1.4 | 1.42 | 1.41 | 1.51 |
Latest reading
Ratio of interest to borrowings stood at 1.6% in Q2 2026. That is unchanged from Q1 2026 and +0.3 pp from a year earlier. The series on this page is quarterly and runs from Q4 1968 to Q2 2026.
- Latest
- 1.6%
- Q2 2026
- vs previous period
- 0.0 pp
- Q1 2026
- vs a year earlier
- +0.3 pp
About this data
Number of corporations in the survey population, interest paid relative to borrowings, the liquidity ratio and the turnover period of trade receivables. 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.
