Not to be released before 2:00 p.m.
Thursday, June 23, 2011

JSTJune 23, 2011
Research and Statistics Department
Bank of Japan

Survey Method of the Tankan’s June 2011 Survey
The response period of the Tankan’s June 2011 survey is between May 30 and June 30, 2011. The Great
East Japan Earthquake may cause unprecedented effects on the survey results scheduled to be released onFriday, July 1. This notice provides, in advance, information that would be taken into account in analyzing
the results of the June survey.
1.

Survey Method: Number of Reporting Companies & Response Rate

The Tankan’s June 2011 survey is conducted based on the usual survey method; sample enterprises in theTohoku region (747 enterprises or 6.8 percent of all sample enterprises) are included as in the previous
surveys. Some of these enterprises, however, may find it difficult to respond to the survey under thecurrent situation. In order to meet the public interest, the Bank of Japan will exceptionally release thenumber of reporting companies and the response rate in detail, together with the “Tankan Summary” onFriday, July 1. These figures are also included in the “Comprehensive Data Set” to be publicized onMonday, July 4.
a. Business conditions D.I.
Data by industry group (i.e., manufacturing and nonmanufacturing) will be released for both the numberof reporting companies and the response rate of the business conditions D.I. Data of past surveys areshown in Chart 1.
Chart 1: Number of Reporting Companies and Response Rate of the Business Conditions D.I. (All sized Enterprises)

FY2010FY2011March
June
September
December
March
June

Manufacturing
numberrate
4,527
98.9
4,482
98.8
4,452
99.3
4,410
99.0
4,24395.9

Nonmanufacturing
numberrate
6,850
98.5
6,780
98.6
6,711
98.7
6,647
98.8
6,373
95.5
To be released on July 1(Number of enterprises, percent)All Industries
numberrate
11,37798.7
11,262
98.7
11,163
98.9
11,05798.9
10,61695.6

Note: Response rate = number of reporting companies / number of sample enterprises × 100b. Annual projections
For the June 2011 survey, the response rate for FY2011 annual projections -- such as sales, current profits,
and fixed investment -- may be lower than usual due to the earthquake disaster. Nonresponse to annual
projections is not counted as effective responses. In the Tankan survey, such missing values are imputed
based on the imputation method described in the next section. Any significant declines in the response rate,
if occurred, may lower the statistical accuracy.
For reference, the Bank of Japan will release the number of reporting companies and the response rate forannual projections (sales, current profits, and fixed investment) of all industries and enterprises on Friday,
July 1, together with the “Tankan Summary.” Chart 2 summarizes the results of past June surveys.

Chart 2: Number of Reporting Companies and Response Rate for Annual Projectionsin the June survey (All Industries and Enterprises)(Number of enterprises, percent)
Sales
Current Profits
Fixed Investment
numberrate
numberrate
numberrate
FY2007
10,641
98.2
10,62298.0
10,59997.8
FY2008
10,335
97.7
10,31597.5
10,30997.4
FY200910,061
97.5
10,02997.2
10,02497.1
FY2010
11,103
97.3
11,07997.1
11,05296.9
FY2011
To be released on July 1
Note: Response rate = number of reporting companies / number of sample enterprises × 1002.

Useful Information for the Survey Resultsa. Missing value imputation
The June 2011 survey will employ the usual imputation method. Nonresponse to annual projections issubstituted using the most recent effective responses of the same enterprise in estimating the population
statistics. If annual projections for FY2011 are given in the previous March survey but unavailable for thisJune survey, the figures obtained in the previous March survey are used to impute missing responses for theFY2011 annual projections. If both of these figures are unavailable, the figures of the previous year,
FY2010, are used.
b. Aggregates by region
Although the aggregated results by region are not included in the Tankan released by the Research andStatistics Department, the Bank of Japan’s Local Branches release these results, which are included in the“Local Branch Tankan Report (available in Japanese only).” The response rates and aggregated results byregion are also available on the following websites.
ReleaseRegional
EconomicReportRegion
Comparison among 9 regions(Business Conditions D.I. only)
Kanto-Koshinetsu
Hokkaido
TohokuHokuriku
Tokai (3 prefectures**)
Tokai (Shizuoka)
Kinki
Chugoku
Shikoku
Kyushu-Okinawa

Release Date
July 4

TBA
16:30
15:00
11:30
11:30
14:30
15:00
15:00
15:30
15:00

Where to find data
http://www.boj.or.jp/research/brp/rer/(available both in Japanese and English)

http://www3.boj.or.jp/sapporo/index.html
http://www3.boj.or.jp/sendai/index.html
http://www3.boj.or.jp/kanazawa/index.html
Local
http://www3.boj.or.jp/nagoya/index.html
Branchhttp://www3.boj.or.jp/shizuoka/index.html
Tankan*July 1
http://www3.boj.or.jp/osaka/index.html
http://www3.boj.or.jp/hiroshima/index.html
http://www3.boj.or.jp/takamatsu/index.html
http://www3.boj.or.jp/fukuoka/index.html(available in Japanese only)
Note: * The “Local Branch Tankan Report” releases results of items other than that of the business conditions D.I.
Branches other than those listed above also release their “L.B. Tankan Report” respectively. Materials releasedby branches are available on the website (http://www.boj.or.jp/about/outline/location/jp_location.htm).
** Aichi, Gifu, and Mie prefectures.

For further information, please contact:
Business Survey Group
Research and Statistics Department
Bank of Japan
Email: post.rsd5@boj.or.jp