The yen’s plummet to its weakest level in decades and the passing along of increased costs onto consumers have powered Japan Inc. to another year of record earnings.
Listed companies are expected to chalk up a combined record net profit for a third consecutive year for fiscal 2023, which ended in March, according to estimates by SMBC Nikko Securities Inc. released on May 13.
The estimates are based on the financial results announced by May 10 by 720 of the 1,292 companies, excluding financial institutions, that closed their books in March and are covered by the TOPIX index for the Tokyo Stock Exchange.
The 720 companies posted 33.5 trillion yen ($214.16 billion) in combined net profits, up 14.3 percent from fiscal 2022, on sales of 421.5 trillion yen, up 6 percent.
Operating profits, or income from core business operations, totaled 36.7 trillion yen, up 20.9 percent.
by Wild_Ebb5097
