TOKYO -- Japanese companies are shifting their asset holdings from real estate and machinery to dividend-paying investments, thanks largely to mergers, acquisitions and subsidiaries abroad -- a fundamental change in how companies make money
Dividends from overseas subsidiaries, in particular, are becoming increasingly important to corporate earnings. According to finance ministry data, stocks, bonds and other investment assets accounted for 47.8% of fixed assets at Japanese companies in the fiscal year ending in March 2017. That represents 10% growth from the previous year, to 438 trillion yen ($4.1 trillion).
