Skyeast Investment Corporation

Capital spending in Japan was down 1.7 percent on year in the second quarter of 2010, the Ministry of Finance said on Friday. That was better than expectations for a 6.5 percent decline following the 11.5 percent fall in the previous three months.

Excluding software, capex was down an annual 1.5 percent versus forecasts for a 5.9 percent decline after falling 12.9 percent in Q1.

Current profits were up 83.4 percent on year, the data showed, while sales were up an annual 20.3 percent.

For the fiscal year 2009, capital spending jumped 20.5 percent on year. Current profits were down 9.4 percent on year, and sales shed an annual 9.3 percent. (Provided by RTTNews)