Business News
TSE 1st section to post first first-half profit in a year
Japan's economy is showing signs of improvement, with companies listed in the first section of the Tokyo Stock Exchange (TSE) looking to post their first semiannual ordinary profits in a year, it has emerged.
The forecast, announced by Nikko Cordial Securities Inc., is based on data from 701 companies, which released their interim financial reports by Thursday. The companies posted a total 4.8846 trillion yen in ordinary profit; and while they only comprise around 52 percent of those companies following the normal fiscal year, since it includes the major domestic manufacturers the section as a whole is likely to post a profit.
The listed companies had suffered 2.8743 trillion yen in deficit for the second half of fiscal 2008 due to the global recession, but businesses are rapidly recovering thanks to drastic restructuring efforts and the government's economic measures.
Among the 620 companies that released their interim earnings forecasts, about 70 percent, or 451 companies, predicted that their earnings will turn out better than they had expected.
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(Mainichi Japan) November 7, 2009
