ID :
75749
Mon, 08/17/2009 - 23:23
Auther :

Firms listed on TSE record combined profit in April-June

TOKYO, Aug. 17 Kyodo -
Companies listed on the First Section of the Tokyo Stock Exchange recorded a
combined profit in the April-June first quarter of fiscal 2009, a turnaround
from red ink in the previous quarter, largely due to labor and other cost
reductions, according to their quarterly results released by Monday.
Nikko Cordial Securities Inc., which analyzed results announced by 1,343
companies listed on the First Section of the TSE, found that they chalked up a
combined pretax profit of 2.55 trillion yen in the April-June period, down 70.2
percent from a year earlier.
Combined sales totaled 115.52 trillion yen, down 23.9 percent, Nikko Cordial said.
Of the 33 business sectors, automobile, electric machinery and seven others
were in the red, while 10 sectors climbed into the black in the April-June
period.
Despite a bottoming-out of corporate earnings, only a small number of companies
have revised upward their projections for fiscal 2009 to March 31.
After compiling the earnings forecasts of 1,312 companies listed on the premier
section of the Tokyo bourse, the Shinko Research Institute reported that 7.1
percent, or 93, have raised their projections while 6.3 percent, or 83, have
lowered them.
==Kyodo

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