Society

Corporate Japan braces for second year of falling profits

May 18 (Nikkei) - Japan's companies are expected to earn less in combined net profit for the year ending March 2020, as the weakening Chinese economy and the yen's strength take their toll on machinery makers and other exporters.

Total net profits are forecast to fall 1.4% to 28.45 trillion yen ($259 billion) for a second straight year of decline, according to Nikkei, which gathered data from the 1,564 listed non-financial companies that released earnings outlooks through Friday.

Net profit for the manufacturing sector is projected to slide 6% to 15.18 trillion yen, offsetting an expected 4% increase in non-manufacturers' profit to 13.27 trillion yen.

Machinery producers, accounting for more than 10% of the total, are particularly hurting. Tokyo Electron sees profit tumbling 34% amid soft demand for semiconductor and display production equipment. Electronic parts supplier Murata Manufacturing is bracing for an 18% drop as smartphone makers adjust output of upmarket models.

Exporters are also facing headwinds from a strengthening yen.

Do Bears Prefer Acorns or Berries?

Bear sightings across Japan have already climbed to nearly twice the level recorded during the same period last year, prompting entry bans in mountain areas behind Kyoto’s Ninna-ji Temple and the cancellation of hiking events in Kansai, while new research suggests that the key to reducing encounters may lie in understanding what bears eat in each region.

Copper Thieves Target Japanese Shrines

Copper roofing panels were stolen from several shrines in Hamamatsu, Shizuoka Prefecture, including a city-designated cultural property, in the latest case amid a nationwide surge in copper thefts targeting shrines and temples across Japan, where soaring metal prices have fueled crimes that leave historic religious buildings damaged, exposed to the elements, and facing repair costs of millions of yen.

1200-Year-Old Temple on Miyajima Reduced to Ashes

Flames broke out on the morning of May 20th on Miyajima Island in Hiroshima Prefecture, home to one of Japan's World Heritage sites, destroying Reikado Hall near the summit of Mount Misen.

From Bento Boxes to Garbage Bags, Rising Costs Hitting Daily Life Across Japan

Uncertainty surrounding the situation in the Middle East is beginning to affect daily life in Japan, as concerns over crude oil supplies spread to restaurants, cleaning services and even household garbage disposal systems across the Kansai region.

Tochigi Robbery-Murder Suspect’s Wife Posted Dance Videos on Social Media

A 25-year-old woman arrested as a suspected ringleader in a robbery-murder case in Tochigi Prefecture once posted cheerful dance videos on social media and was remembered by those who knew her as an energetic and outgoing young woman.

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