Japan's pretax corporate profits suffer biggest drop in 7 years
4/12/2008 16:16
Japan's pretax corporate profits recorded the largest fall in nearly seven
years in the July- September quarter, down by 22.4 percent year-on-year to 10.32
trillion yen (US$110.97 billion), said the finance ministry today.
It was the
fifth consecutive quarter that the profits, measured on an all-industry basis,
had been on the decline amid the ongoing financial crisis, falling at the
fastest pace since the October- December quarter of 2001 when the figure read
31.4 percent, said the finance ministry.
Meanwhile, the nation's corporate
capital spending in the quarter contracted 13.0 percent, said the
ministry.
The statistics came out on the basis of a survey conducted by the
finance ministry, which polled 25,201 companies capitalized at 10 million yen or
more.
Xinhua
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