According to The Asahi Shimbun, the weaker yen has helped listed companies post record net profits for the fiscal year that ended in March, but those sky-high earnings are not expected to trickle down to employees or consumers.
Many major companies have been hesitant about raising their employees’ salaries in light of the rising costs for imports, including ingredients, parts and fuel.
According to SMBC Nikko Securities Inc., 1,323 companies listed on what was then the First Section of the Tokyo Stock Exchange are expected to post a combined 33.5 trillion yen ($260 billion) in net profits, an increase of 35.6 percent over the previous fiscal year.
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