More Japanese Firms Post Higher Earnings but Toray’s Profits Dip

Several more Japanese companies have posted financial results for fiscal periods ended December 31, 2007. Showa Denko’s fiscal year ended December 31 and the company recorded a 15% increase in net profits for the period, to ¥33.06 billion ($307 million). Net sales for the year were up 12% to ¥1.02 trillion. “In 2007, despite instability factors, the Japanese economy continued its gradual recovery owing to steady capital spending against the background of strong corporate earnings and increases in exports to Asian countries,” Showa Denko...

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