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Tuesday, May 19, 2015

Japan Saw Record Profits In 2014-2015 Financial Year

Above, a view of the Tokyo Skytree from Mori Tower in Roppongi Hills. Photo by Armand Vaquer.

Japan's 2014-2015 fiscal (or financial) year ended March 31 and it saw record-breaking profits for Japanese corporations, primarily exporters.

According to the Wall Street Journal:
TOKYO—Japanese companies made record profits in the last financial year at a rate not seen since before the global financial crisis, thanks partly to a weaker yen which fattened earnings of big exporters. 
Domestic demand in Japan remained soft throughout the year, due largely to a tax increase in April, but exporters such as Toyota Motor Corp. again enjoyed the benefit of the Japanese government’s weak-yen policy. Many of them see bigger profit growth in the year ahead.

Japan's two biggest airlines also have reason to smile:
Japan’s two biggest airlines reported higher profits thanks to a recent tourism boom and cheaper fuel prices, both partly the result of a weaker yen. ANA Holdings Inc., the parent of All Nippon Airways Co., said its operating profit increased 39% to ¥91.5 billion, while Japan Airlines Co. said its profit rose 8% to ¥179.7 billion.

To read more, go here

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