Japan Companies' Internal Reserves Top 600 T. Yen for 1st Time
Tokyo, Sept. 2 (Jiji Press)--The internal reserves of Japanese nonfinancial companies have surpassed 600 trillion yen for the first time, reflecting their solid earnings, a Finance Ministry survey showed Monday.
Companies' internal reserves totaled 600,985.7 billion yen at the end of March, or the end of fiscal 2023, hitting a record high for the 12th consecutive year.
The total was up 8.3 pct from a year earlier, the fastest since fiscal 2017, as corporate ordinary profits hit a record high of 106,769.4 billion yen, exceeding 100 trillion yen for the first time.
Cash and deposits on hand increased 2.3 pct to 301,807.3 billion yen, topping 300 trillion yen for the first time.
Since the 2008 financial crisis, Japanese companies have been eager to build up cash reserves to prepare for a recession. Both internal reserves and cash and deposits have roughly doubled since fiscal 2008.
(2024/09/02-22:26)
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