Jiji Press TOKYO (Jiji Press) — A Jiji Pres survey found Friday that about 70 percent of listed Japanese companies enjoyed profit growth in April-September mainly thanks to brisk performance of exporters reflecting a weaker yen.
The tally covered 1,161, or 91 percent, of the nonfinancial companies that are listed on the Tokyo Stock Exchange and close their books in March.
Their total sales for the first half of fiscal 2017 grew 8.9 percent from a year before. Recurring profits surged 21.0 percent.
Sony Corp., Kyocera Corp. and other electronics businesses posted robust earnings, on the back of the spread of smartphones around the world and an increase in the use of electronic devices in vehicles.
Material producers, such as steelmakers and chemical makers, also fared well, reflecting commodity market recovery. Nippon Steel & Sumitomo Metal Corp. saw a year-on-year increase of more than fivefold in recurring profit.
Major trading houses achieved profit surges, chiefly supported by higher prices for natural resources such as crude oil.