Big Firms Log 13 Pct Earnings Growth in April-June: Jiji Survey

Economy

Tokyo, Aug. 15 (Jiji Press)--Combined net profits at companies listed on the Tokyo Stock Exchange's first section grew 13.1 pct year on year in April-June, reaching 27.5 pct of their full-year projections, a Jiji Press survey has shown.

The blue-chip companies' operating profits on a consolidated basis jumped 15.2 pct, on sales growth of 5.0 pct.

The survey covered 1,304 nonfinancial TSE first-section companies that close their yearly books in March and disclose consolidated earnings.

Although the dollar's average exchange rate against the Japanese currency in the quarter fell about 2 yen from a year earlier to 109 yen, many big companies enjoyed steady earnings growth thanks to the brisk global economy.

Construction machinery makers including Komatsu Ltd. <6301> and Hitachi Construction Machinery Co. <6305> rode strong demand for infrastructure development around the world.

[Copyright The Jiji Press, Ltd.]

Jiji Press