1 Dissemination of TANKAN Survey Koichi Nakahata Research and Statistics Department Bank of Japan

2 1. TANKAN’s Principles of Dissemination  The results of TANKAN are released one business day after the end of survey period. - Release day was advanced one week earlier in  We release ONLY the results of TANKAN without adding any interpretations.  Release schedule is pre-announced on the website.  Any users can obtain the results all at once.

3  Highly automated data processing. - Tables/Graphs are made automatically from DB.  Phased publication.  Release Day: Main figures - Priority is given to the release of DI, ordinary profit, investment in plant & equipment etc.  Next business day: Figures by industry, Long-term time series data - Some data such as DI are available since  After five business days: Publication of Booklet (“TANKAN – Short-term Economic Survey of Enterprises in Japan – ”). - Minimum time required for printing booklet is just five business days. (1) Quick Release

4  Interpretation of statistics should first be made by the market/economists. - We observe the neutrality by refraining from giving any interpretation. - We only comment on purely statistical facts (e.g. DI rose 30; this is the highest level since 1998) on the release day. - BOJ’s official view on the economy, based on various economic and financial statistics including TANKAN survey, are expressed in its monthly report and the governor’s press conference.  Survey results can be released immediately after the data compilation. (2) Omission of Analysis

5  The procedure of data release  Media briefing prior to the release from 8:20 a.m. (Embargo until 8:50 a.m., and asking the press not to leave pressroom and making contact with others)  The release to the public at 8:50 a.m. - Release time is set just before the opening of the Japanese market.  The general means for dissemination  BOJ’s website - Effective tool to provide the public an equal access to data.  Publication of booklet  Simultaneous release of the results in English (3) Easy Access to Data

6  Adoption of the standardized format - Adoption of the common format such as PDF, Excel, LZH and ZIP in figures by industry. - Adoption of the Text format in Long-term time series data.  Further Improvement of the accessibility - Most users are satisfied with the easy access to the TANKAN survey data. - However, we may consider the building of DB sharing the results/data with the public to further improve the accessibility. PDFExcelLZHZIP Japanese ゝゝゝ English ゝゝ

7 2. Contingency Plan  The preparation of detailed contingency plans. - In the case of computers/systems glitch on the release day, the plans aim at completing the restoration work within the day in order to release the results the next day at the latest.

8 3. Possible Issue: Further data disclosure  The enforcement of revised Statistics Law (scheduled in April. 2009) New law recommends that the public institutions compiling statistics provide more detailed data upon users’ request (for academic purpose). - Offer “anonymous data” (= the data processed by statistic makers to protect enterprises’ information about individuals or organization) - Providing users with “custom-made data” (= the data compiled by statistic makers according to users’ request/commission). BOJ may examine the possibility of further data disclosure upon request, considering both users’ needs and the protection of enterprises’ information.

9 Reference Web-site: Explanation (Jun. 7, 2007) FAQ (Mar. 2, 2007)