TOKYO- Japanese non-financial companies' combined capital expenditures in January-March rose 4.5 percent from a year before to 14,290.1 billion yen, up for the second straight quarter, the Ministry of Finance said Thursday.

The results outpaced the median forecast of a 4 percent increase in a Jiji Press poll of five economic research institutes.

The non-financial companies' recurring profits in the fourth quarter of fiscal 2016 jumped 26.6 percent to 20,131.4 billion yen, up for the third quarter in a row and hitting a record high for January-March, backed by strong sales of new vehicle models, the ministry said in a survey report.

Their total sales expanded 5.6 percent to 350,636.6 billion yen, marking the second consecutive quarterly growth.

Capital spending in all industries, including the financial sector, grew 4.2 pct to 15,052.3 billion yen. All-industry recurring profits were up 22.0 percent at 22,334.6 billion yen. (Jiji Press)