Filed at 7:57 p.m. ET

TOKYO (AP) -- Business confidence among Japanese companies has improved for the third straight quarter, but not enough to convince them to spend, the central bank said Monday.

In the Bank of Japan's closely watched "tankan" quarterly survey of business sentiment, the main index for large manufacturers stands at minus 24. Three months ago the index stood at minus 33.

The figure represents the percentage of companies saying business conditions are good minus those saying conditions are unfavorable. The result beats Kyodo News agency's average market forecast if minus 27.

The mood has been tempered by the yen's recent climb, which reduces the value of overseas profits for companies like Toyota Motor Corp. (NYSE:TM) and Sony Corp. (NYSE:SNE) Companies remain reluctant to restart investing in new factories, equipment or workers, the survey showed.

The yen hit a 14-year high of 84.83 against the dollar on Nov. 27. The dollar has recovered somewhat since then, trading above 89 yen Monday morning saving account payday loan.

Major manufacturers and non-manufacturers reduced their capital spending plans and now expect to cut expenditures by an average 13.8 percent this fiscal year through March 2010.

The sentiment index for big non-manufacturers inched up to minus 22 from minus 24 in September.

Sentiment among medium-sized manufacturers stood at minus 30 from minus 40, while the reading for small manufacturers was up slightly to 40 from minus 52 in September.

The Bank of Japan surveyed a total of 10,116 companies between Nov. 9 and Dec. 11, of which more than 99 percent responded.

The tankan helps the central bank guide monetary policy, though board members are not expected to change the central bank's key interest rate, now at 0.25 percent, for the time being.

Confidence Up at Japanese Manufacturers