Many publicly traded Japanese companies have reported robust earnings for the nine months ended in December as their bottom line improved thanks to price increases, reported Jiji Press.
455 companies, or nearly 60% of the total TOPOX firms, reported higher net profits year-on-year, according to SMBC Nikko Securities Inc.
Of 786 component firms of the TOPIX Japanese stock index that had announced their April-December results as of Wednesday, 455 companies, or nearly 60% of the total, reported higher net profits year-on-year, according to SMBC Nikko Securities Inc.
The number of companies that raised their net profit forecasts for the full fiscal year ending next month exceeded that of those that lowered estimates, 154 to 78.
“The combined full-year net profit [of TOPIX companies] is on track to hit a record high,” said Hikaru Yasuda, chief equity strategist at SMBC Nikko. “The earnings recovery that started in the previous year continues,” as reported by Yomiuri Shimbun.