The Bank of Japan (BOJ) said on Wednesday that business confidence at big Japanese manufacturers dived to a record low on a quarter-on-quarter basis in the January-March period.

According to the "Tankan" survey released by the central bank, as the global economic recession slashed Japan's exports and industrial production, confidence index for large manufacturers plunged from minus 24 in December to minus 58, the steepest decrease since the survey was launched in 1974.

But the BOJ predicted a 7-point rise to minus 51 for the April-June quarter.

The index for major nonmanufacturers suffered the largest drop of 22 points in 26 years, down from minus 9 to minus 31, said the BOJ.

(Xinhua News Agency April 1, 2009)