In this situation, corporate profits have been at high levels and business fixed investment has continued on an increasing trend (Chart 4). Looking at fixed investment by sector, in manufacturing, there has been a notable increase in research and development investment in cutting-edge technologies such as self-driving systems and artificial intelligence (AI), in addition to investment intended for enhancing capacity.
In nonmanufacturing, investment also has been increasing in a wide range of fields, such as that in office buildings accompanying urban redevelopment projects and in the construction of accommodation facilities to meet demand from inbound tourism. Investment aimed at improving efficiency and saving labor in order to deal with the recent labor shortage also has maintained its high growth nationwide.