BOJ's Iwata sees strong business investment in 05

Kazumasa Iwata, one of the Bank of Japan's two deputy governors, told a conference in Sydney that business investment in Japan was strong and will increase next year.

Iwata was speaking after a speech he delivered at an Australia-Japan Business Outlook Conference in Sydney.

``Business investment in this recovery phase is very strong and solid and broadly based,'' he said.

Japan's Cabinet Office said last month it grew more pessimistic about the state of the world's second-largest economy in Nov