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Fast Facts on Japan's R&D Investment in the Tankan: Uncovering Data Trends and Patterns

January 25, 2023
MASUJIMA Ayako and WASHIMI Kazuaki
Research and Statistics Department

The Bank of Japan has recorded R&D investment in its Tankan since the March 2017 survey. As the R&D data have been collected for several years now, this report aims to provide a snapshot of data trends and patterns for users. Compared to other well-known R&D statistics, the Tankan asks annual projections and makes it possible to conduct a comparison across items and cross tabulation with the same sample. In fact, data analysis suggests that (1) large manufacturing firms stand out in their R&D share and R&D implementation rate, and (2) revisions for annual projections of R&D investment are smaller than those of fixed investment, which cannot be necessarily quantified with the existing statistics. Going forward, more in-depth analysis would be expected to be made possible as the data set grows.


Bank of Japan Review is published by the Bank of Japan to explain recent economic and financial topics for a wide range of readers. This report, 2023-E-1, is a translation of the original Japanese version, 2023-J-1, published in January 2023. The views expressed in the Review are those of the authors and do not necessarily represent those of the Bank of Japan. If you have comments or questions, please contact, Research and Statistics Department (E-mail: