Daiwa Securities economist Yutaro Suzuki says the BOJ’s Tankan signaled firms
expected sentiment to worsen over the next three months, but the latest survey
likely under‑states the impact of recent US‑Iran peace talks. A BOJ official
said about 70% of users submitted their replies before the agreement.
Suzuki expects the September Tankan could show cross‑sector improvement as
Middle East developments are incorporated into expectations.