Japan Leading Index Components
The component series of Japan's leading index of business conditions in their own units: inventory ratio indexes, new job offers, real machinery orders, housing floor area started, consumer confidence, the Nikkei commodity price index, M2 growth, TOPIX and the small business sales forecast DI. Source: Indexes of Business Conditions, Economic and Social Research Institute, Cabinet Office.
| Indicator | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | 10-2025 | 09-2025 | 08-2025 | 07-2025 | 06-2025 | 05-2025 | 04-2025 | 03-2025 | 02-2025 | 01-2025 | 12-2024 | 11-2024 | 10-2024 | 09-2024 | 08-2024 | 07-2024 | 06-2024 | 05-2024 | 04-2024 | 03-2024 | 02-2024 | 01-2024 | 12-2023 | 11-2023 | 10-2023 | 09-2023 | 08-2023 | 07-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Producers' inventory ratio index, final demand goods (inverted) | 109.3 | 108.7 | 103.8 | 103.4 | 102.1 | 106.1 | 102.8 | 106 | 105 | 105.9 | 106.6 | 108.5 | 108 | 107.7 | 107.4 | 109.9 | 110.1 | 109.6 | 109.6 | 107.1 | 107.6 | 105.7 | 107.6 | 110.8 | 107.9 | 109.2 | 107.2 | 110.9 | 108.5 | 103.4 | 106.6 | 103.1 | 105.1 | 101.3 | 103.3 | 103.4 | 103.4 | |
| Producers' inventory ratio index, producer goods (inverted) | 100.7 | 104.5 | 102.3 | 100.9 | 103.3 | 104.6 | 100 | 106 | 104.9 | 104.3 | 106.2 | 106.4 | 105.7 | 105.8 | 104.6 | 105.2 | 105.8 | 104.6 | 104.8 | 107.7 | 107.5 | 106.2 | 105.7 | 107 | 104.4 | 105.1 | 103.2 | 104.6 | 105.1 | 100.2 | 103.6 | 103 | 105 | 105.2 | 102.3 | 106.5 | 108.1 | |
| New job offers, excluding new school graduates | 799,614 | 793,744 | 785,944 | 802,296 | 787,004 | 753,865 | 800,334 | 801,947 | 791,143 | 774,844 | 782,448 | 805,772 | 808,890 | 800,412 | 807,916 | 831,707 | 824,640 | 814,823 | 841,636 | 826,814 | 826,635 | 829,359 | 837,425 | 825,613 | 822,638 | 835,832 | 834,240 | 818,468 | 849,408 | 856,190 | 848,165 | 857,348 | 852,491 | 855,036 | 850,508 | 869,772 | 864,415 | |
| Machinery orders at constant prices, manufacturing | 443,366 | 371,483 | 436,305 | 419,943 | 492,226 | 377,657 | 431,300 | 359,267 | 389,978 | 446,276 | 377,289 | 377,199 | 365,275 | 388,073 | 395,615 | 404,779 | 379,926 | 379,937 | 367,775 | 416,885 | 387,974 | 356,592 | 363,358 | 369,278 | 387,370 | 379,724 | 371,103 | 415,445 | 369,441 | 340,919 | 384,710 | 365,408 | 375,566 | 384,698 | 388,690 | 387,795 | ||
| Total floor area of new housing construction started | 4,969 | 4,886 | 4,752 | 4,549 | 4,895 | 4,800 | 4,841 | 4,871 | 4,653 | 5,037 | 4,672 | 4,579 | 4,565 | 4,198 | 3,482 | 3,963 | 6,961 | 5,134 | 4,863 | 4,925 | 5,012 | 4,994 | 5,058 | 5,005 | 4,967 | 5,059 | 5,334 | 5,436 | 4,950 | 4,965 | 5,094 | 5,141 | 5,049 | 5,080 | 5,195 | 5,414 | 5,206 | |
| Consumer confidence index | 34.9 | 33.8 | 33.6 | 32.2 | 33.3 | 39.7 | 37.6 | 36.9 | 37.2 | 35.9 | 35.4 | 34.9 | 34 | 34.7 | 33.3 | 31.5 | 33.8 | 34.4 | 34.8 | 35.6 | 36 | 36.1 | 37 | 36.9 | 37.2 | 36.9 | 37.1 | 38.5 | 39.2 | 38.4 | 37.7 | 36.7 | 36 | 35.9 | 35.5 | 36.4 | 37.2 | |
| Nikkei commodity price index, 42 items | 300.56 | 296.58 | 300.22 | 294.18 | 284.36 | 279.4 | 275.61 | 269.87 | 269.75 | 269.65 | 265.17 | 264.76 | 264.05 | 263.31 | 260.9 | 261.56 | 269.34 | 267.83 | 268.75 | 268.29 | 266.33 | 267.87 | 267.46 | 266.22 | 266.85 | 272.63 | 272.81 | 269.17 | 263.8 | 259.59 | 259.14 | 257.07 | 258.47 | 257.34 | 257.26 | 257.95 | 255.97 | |
| Money stock M2, change from previous year | 2.2 | 2.2 | 2.5 | 2.3 | 2 | 1.7 | 1.6 | 1.7 | 1.7 | 1.6 | 1.5 | 1.3 | 1 | 0.8 | 0.6 | 0.5 | 0.8 | 1.2 | 1.3 | 1.3 | 1.2 | 1.2 | 1.2 | 1.3 | 1.5 | 1.5 | 1.8 | 2.2 | 2.5 | 2.4 | 2.5 | 2.3 | 2.3 | 2.4 | 2.4 | 2.5 | 2.5 | |
| Stock prices, TOPIX | 4,021.52 | 3,963.34 | 3,869.37 | 3,727.01 | 3,644.58 | 3,779.1 | 3,577.76 | 3,388.09 | 3,320.31 | 3,225.33 | 3,134.24 | 3,051.83 | 2,861.07 | 2,786.56 | 2,740.99 | 2,533.91 | 2,743.15 | 2,740.26 | 2,738.42 | 2,741.27 | 2,701.5 | 2,683.52 | 2,628.79 | 2,596.4 | 2,843.31 | 2,758.43 | 2,740.9 | 2,707.57 | 2,728.81 | 2,606.11 | 2,494.07 | 2,348.2 | 2,356.32 | 2,270.78 | 2,379.55 | 2,284.19 | 2,273.04 | |
| Index of investment climate, manufacturing | 3.1 | 3.15 | 3.3 | 3.5 | 3.26 | 2.64 | 2.31 | 2.41 | 2.4 | 2.26 | 2.29 | 2.32 | 2.42 | 2.48 | 2.82 | 2.78 | 2.96 | 3.14 | 3.37 | 3.35 | 3.4 | 3.4 | 3.39 | 3.24 | 3.27 | 3.13 | 3.22 | 3.25 | 3.35 | 3.41 | 3.58 | 3.54 | 3.25 | 3.45 | 3.36 | 3.19 | ||
| Ratio of operating profits to total assets, manufacturing | 5.77 | 5.8 | 5.82 | 5.85 | 5.37 | 4.88 | 4.37 | 4.22 | 4.06 | 3.91 | 3.89 | 3.87 | 3.84 | 3.98 | 4.13 | 4.27 | 4.33 | 4.39 | 4.46 | 4.4 | 4.34 | 4.26 | 4.28 | 4.29 | 4.32 | 4.2 | 4.09 | 3.98 | 4.06 | 4.14 | 4.2 | 4.2 | 4.2 | 4.22 | 4 | 3.79 | ||
| Newly issued 10-year government bond yield | 2.79 | 2.67 | 2.65 | 2.52 | 2.35 | 2.11 | 2.24 | 2.06 | 1.81 | 1.66 | 1.65 | 1.6 | 1.55 | 1.42 | 1.5 | 1.31 | 1.49 | 1.37 | 1.25 | 1.09 | 1.05 | 0.94 | 0.86 | 0.89 | 1.05 | 1.05 | 1.07 | 0.87 | 0.73 | 0.71 | 0.73 | 0.62 | 0.66 | 0.95 | 0.77 | 0.64 | 0.6 | |
| Sales forecast DI of small businesses | -0.7 | 1.9 | -2.4 | -1.8 | 2.1 | 4.5 | 0.2 | 0.9 | -2.2 | -3.5 | -2.4 | -2.7 | -3.8 | -4.1 | -2.8 | -0.7 | 1.8 | 1.5 | 2.9 | -2.2 | -3.7 | 0.9 | 0.2 | -4 | -1.2 | 0 | 1.7 | -0.7 | -1.4 | -1.9 | -0.9 | -1.3 | 2.9 | 1 | 2.7 | 1.3 | 1.3 |
Latest reading
New job offers, excluding new school graduates stood at 799,614 persons in Jul 2026. That is +0.7% from Jun 2026 and −1.1% from a year earlier. The series on this page is monthly and runs from Jan 1975 to Jul 2026. Source: Economic and Social Research Institute, Cabinet Office – Indexes of Business Conditions.
- Latest
- 799,614 persons
- Jul 2026
- vs previous period
- +0.7%
- Jun 2026
- vs a year earlier
- −1.1%
About this data
The component series of Japan's leading index of business conditions in their own units: inventory ratio indexes, new job offers, real machinery orders, housing floor area started, consumer confidence, the Nikkei commodity price index, M2 growth, TOPIX and the small business sales forecast DI. Source: Indexes of Business Conditions, Economic and Social Research Institute, Cabinet Office.
