Japan's corporate income hits new record high in FY2022

Nov 02, 2023 | News On Japan

TOKYO - Total taxable income declared by companies in Japan in fiscal 2022 grew 7 percent from the previous fiscal year to more than 85 trillion yen.

It marked the highest figure since fiscal 1967, when the earliest available records were kept. The previous high was set in fiscal 2021.

Japan's National Tax Agency said more than 3.12 million companies declared income totaling 85.01 trillion yen, or about 560 billion dollars, in the year ending in March 2023.

By industry, income reported by manufacturers stood at about 25.5 trillion yen, or about 168 billion dollars, up 3.2 percent in yen terms from the previous fiscal year.

The figure for wholesalers increased 19.3 percent to 8.46 trillion yen or about 56 billion dollars, while the number for ryokan Japanese-style inns, eating and drinking establishments rose 27.3 percent to 849.9 billion yen or about 5.6 billion dollars. ...continue reading

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