MNI: Japan's Cabinet Ups Corporate Profit View, Steady Outlook

Japan's government upgraded its assessment on corporate profits for the first time since August 2021, but left its main economic assessment mostly unchanged from the previous month, though it voiced concern on the impact of pandemic curbs, the Cabinet Office said on Friday.

The government did lower its assessment on business sentiment for the first time since May 2021 based on feedback from firms that conditions “appear to be pausing” rather than picking up, see: MNI SURVEY: BOJ March Tankan Survey To Show Weaker Corp Views.

As for the near-term outlook, the government warned on rising raw material prices and volatile financial and capital markets and supply-side constraints as well as the "uncertainties surrounding the state of affairs of Ukraine.”