Sony, Ajinomoto rise in Japan profit charts on restructuring, price hikes

Top earners change between fiscal 2018 and 2023 in 16 of 32 industries

20240311N Ajinomoto MSG

Ajinomoto is set to be Japan's most profitable food company in fiscal 2023, thanks to customers accepting price hikes on its products. © Reuters

MOMOKO IMAMURA, KENTARO TSUTSUMI and TOKIO MURAKAMI, Nikkei staff writers

TOKYO -- The lineup of the most profitable Japanese companies in various industries is set to look very different in fiscal 2023 than five years earlier, underscoring how those adapting to inflation and other changes in the business climate are reaping the benefits.

Nikkei compared companies' net profit forecasts for this fiscal year and fiscal 2018 results among its 32 nonfinancial industry classifications. QUICK consensus market forecasts were used for companies that have not released full-year estimates, and irregular fiscal years were excluded. Changes to book-closing dates and delistings were not taken into account.

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