Japan Listed Firm FY 2017 Profit Seen Hitting Record: Jiji Survey (News)
Tokyo, Aug. 10 (Jiji Press)—Japanese companies listed on the Tokyo Stock Exchange's first section are expected to see their combined recurring profit for fiscal 2017 hit a record high, a Jiji Press survey found Thursday.
The profit for the year through March 2018 is projected to rise 6.8% from the previous year, supported by a weaker yen and growth in overseas demand, including from China and the United States.
Their combined sales are expected to grow 5.1%, according to data included in the April-June earnings reports published on or before Thursday by 1,248 nonfinancial companies. They account for 98% of all TSE first section nonfinancial businesses that close their books in March.
The survey also found that 92 companies revised up their full-year earnings estimates, including Toyota Motor Corp., which posted the largest April-June profit among all listed companies.
Meanwhile, 10 companies, including Yamato Holdings Co., revised down their full-year projections.[Copyright The Jiji Press, Ltd.]