1 in 5 Japanese firms forecast record profit

Tourism boom and niche business profiles boost earnings

20240612N Sanrio

Hello Kitty creator Sanrio expects to post its first record profit in 25 years due to the strength of character goods business. (Photo by Mai Kitagawa)

AKINORI KAMATA, Nikkei staff writers

TOKYO -- Nearly one in five Japanese companies expect to report a record-high net profit this fiscal year, a Nikkei analysis shows, with the service sector in particular benefiting from the rush of foreign tourists.

Record profit is forecast by 377 companies, or 18.7% of the roughly 2,020 corporations providing projections for fiscal years ending in March 2025.

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