Financial results for listed companies in Japan are reaching their peak.
According to SMBC Nikko Securities, by May 13, 2024, 1014 companies listed on the prime market of the Tokyo Stock Exchange (TSE) announced their financial results, and more than 60% of them exceeded the final profits of the previous year.
Final profits for the manufacturing sector, as reported by Nihon Keizai Shimbun (covering 170 TSE prime companies), rose 23% from the previous year to 14.8 trillion yen, exceeding the non-manufacturing sector's 7% year-on-year increase to 11.6 trillion yen, both in terms of value and growth.
As symbolized by Toyota's record-high operating profit announced on May 9, many export-oriented companies performed well, backed by the weak yen.
The ability to continuously increase sales volume without being affected by exchange rate fluctuations will be a key factor in the future outlook for manufacturing and other exporting companies.
To learn more about the key to reviving Japan's manufacturing industry, please click here to read "Japanese Manufacturing Industry: A Winning Opportunity.