The latest quarterly 'Tankan' survey from the Bank of Japan suggests that Japanese companies are experiencing the best market conditions for 13 years.

Ahead of expectations the headline figure - the diffusion index for large manufacturers - rose from plus 12 in March to plus 22 in June, which is the best figure since September 1991.

The sister index for small companies also increased to its highest mark since December 1991.

Richard Jerram at ING Financial Markets told the Financial Times: "Another very strong Tankan confirms the strength of the economic cycle. The breadth of the recovery continues to be impressive."

The stronger than expected results caused the yen to increase against the dollar, triggering a fall in the yen price of platinum on the Tokyo Commodity Exchange (TOCOM) yesterday.  The benchmark futures contract on the exchange fell by 36 yen per gram to 2,579 yen.

Tatsuo Kageyama, an analyst at Kanetsu Asset Management, told the Reuters news agency: "The yen's strength depressed TOCOM platinum. Platinum looks very vulnerable. The market is watching whether the benchmark contract can sustain 2,500 yen in the near term."