Japan manufacturers' profits rise 20% on strong U.S. showing

Toyota, Komatsu and others log record earnings as price hikes widen margins

Toyota's net profit more than doubled in the first three quarters of its fiscal year, from April to December, boosted by strong sales of hybrid vehicles in the U.S. (Photo by Takafumi Hotta)

KENSHO MOTOWAKI, Nikkei staff writer

February 12, 2024 08:46 JST

TOKYO -- Aggregate net profits for listed Japanese manufacturers grew more than 20% on the year for the April-to-December period, on price hikes and brisk auto and machinery sales powered by a solid U.S. economy.

Nikkei looked at 285 manufacturing companies listed on the Tokyo Stock Exchange's Prime market, which have fiscal years that run through March, and announced results by Wednesday.