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Combined profit of Japanese companies tops pre-COVID pandemic level

23 Comments

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Capitalism loves nothing better than a crisis to profit off of suffering.

16 ( +21 / -5 )

I doubt the employees who created the profit will see much in raises.

26 ( +29 / -3 )

The combined net profit of listed Japanese companies in the April-December period topped the level in the same period of 2019 prior to the COVID-19 pandemic, as a recovery in consumer spending and the easing of a global chip crunch bolstered growth, according to data from a securities house.

Funny how companies, aided by public stimulus and bailouts, snap back so quickly after disasters while many in the populace are left struggling for years, decades after the crisis.

15 ( +20 / -5 )

Great, will look forward to April to see the results of this trickle down into everyday workers salaries!.

18 ( +23 / -5 )

Fat cats gets richer on the hard work of their employees.

Disgusting - as usual.

15 ( +19 / -4 )

this Happened in many developed nations. The top companies flourished while small businesses and tax payers get to enjoy inflation and forced closures.

the companies themselves did nothing wrong but deal the cards they were dealt (and donate money to the candidates that support their cause)

If you don’t want top companies to continue taking money from small businesses then vote for leaders who will stop the madness of closing borders, restricting hours, and useless mandates.

-4 ( +6 / -10 )

I guess no need to open the doors to foreign workers, students, or tourists. Economy is doing fine.

1 ( +8 / -7 )

Yet no mention of paying workers a decent minimum wage.

16 ( +20 / -4 )

It is called wealth distribution!

4 ( +5 / -1 )

I bet you a few weeks later there will be an article here how company profits

have been negatively affected by the pandemic and labor union demands on

pay increase cannot be met. Are the profits from increased sales or from stocks

and currency exchange ?

As I always say it is very difficult to know what to believe.

2 ( +3 / -1 )

Privatized profits, socialized losses. Same as ever. r/antiwork

7 ( +13 / -6 )

It helps that their competition has been crushed

1 ( +5 / -4 )

Net profit of 28 trillion yen, versus government spending of in excess of 100 trillion yen, on top of tax and other revenues of 65-70 trillion yen if we are lucky.

So the government could confiscate all those profits, and assuming that all else stayed equal (which it wouldn’t but…) then the government would still not have enough money to pay for all of its annual spending.

What does this suggest?

-2 ( +3 / -5 )

Yet pay and bonuses are down significantly, with freezes on promotions and raises…

8 ( +9 / -1 )

Yet workers are being paid the same, or a LOT LESS in most cases.

-1 ( +7 / -8 )

The masses shall endure and be subjected to low pay ...hire and fire contracts ..whilst the fat cats get richer at their expense.

Ah the wonderful capitalist system always making sure the poor get poorer and the rich keep on getting richer.

4 ( +6 / -2 )

Thanks mainly to the huge fiscal spending, while the aggressive quantitative easing didn't hurt, either. Well, it's Japan's own money, so it may as well use it.

Yet pay and bonuses are down significantly, with freezes on promotions and raises

Koreans have just surpassed the Japanese in real income terms. Richard Katz writes that it's due to S. Korean employers passing on higher income to their workers over the years. They don't have much of a choice: the Korean government actually enforces its labor laws, unlike Japan.

-2 ( +8 / -10 )

Maybe the key word here is ‘listed’. lol If I look around and see all the others who are not at the TSE, the pictures are obviously quite different, I guess.

-1 ( +0 / -1 )

Well. Gosh and golly. All the fatcats are back on the margin. Unfortunate that myriad small, independent businesses have crashed, burned and disappeared during the pandemic, with no financial assist from the central government, a government that takes care of its own, but disdains the peasantry.

-2 ( +1 / -3 )

Seems like a much needed lockdown wouldn’t hurt at all . No more garbage misinformation about crashing the economy while we’re recording record deaths . Selfish.

-3 ( +2 / -5 )

time for the fat cats to reward themselves with a fat bonus and a big pay increase...

0 ( +1 / -1 )

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