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Japan Capital Spending Flat In Second Quarter

Capital spending in Japan was roughly unchanged in the second quarter of 2013 compared to the previous year, the Ministry of Finance said on Monday, standing at 83.106 billion yen.

That handily beat forecasts for a decline of 2.1 percent following the 3.9 percent contraction in the first quarter.

Excluding software, capital spending was up an annual 1.4 percent - also topping expectations for a decline of 3.8 percent following the 5.2 percent fall in the previous three months.

Company profits spiked 24.0 percent after gaining 6.0 percent in Q1, the data showed. Company sales eased 0.5 percent after dropping 5.8 percent in the three months prior.

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