A man walks by an electronic stock board of a securities firm in Tokyo on March 10. Photo: AP/Koji Sasahara
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FY2020 earnings upgrades triple downgrades as vaccines ease caution

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Upward revisions in earnings forecasts for this fiscal year by listed companies in Japan have been triple the downward ones, as cautious views on the impact of the new coronavirus eased toward the start of vaccinations in February, according to a credit research firm.

Improvement in their outlooks for the year to March 2021 helped pull the Nikkei stock index up above a 30-year high last month, Teikoku Databank said in a survey report of listed companies which close their books in March.

A few weeks ago there were multiple news stories about drops in earnings "forcing" companies to cancel or reduce bonuses and oppose pay raises.

Funny how these things turn on a dime for companies yet wage growth is glacially slow through 40 years of boom and bust. It is almost like there is no correlation between a company's earnings and worker compensation.

4 ( +5 / -1 )

 It is almost like there is no correlation between a company's earnings and worker compensation.

There isnt, and as long as the people "feel" safe and relatively secure, they are not going to complain.

What Japan NEEDS is a generation like those who were around university age in the late 60's and early 70's, those kids knew how to protest crap like this!

4 ( +5 / -1 )

Good news!

Good to hear that at least someone is doing well in this pandemic.

-1 ( +0 / -1 )

@Yubaru

What Japan NEEDS is a generation like those who were around university age in the late 60's and early 70's, those kids knew how to protest crap like this!

Let's stop to blame the youth generation, it's impossible to have that kind of generation in Japan, not only in the sense of protesters but also as innovators.

Japan has no story of grassroots movement in his known last 3000 years.

The generation of 60s and 70s appeared as a natural result the second world war, the country’s innovators and youth had an easier time of it, because the constraining hierarchies were broken.

Instead of blaming youth in a comfort, older generation should criticize the settled hierarchy and establishment that preventing youth to hope, innovate and breath.

-2 ( +0 / -2 )

A forecast is news?

I don’t get listened to when I ‘forecast’ my business.

As they say “past performance is no measure of future success”

1 ( +1 / -0 )

Japan can keep talking about how great its economy and civilization are.

Moody, S&P, and Fitch don't give a damn.

3 ( +4 / -1 )

Note these are upwards revisions.

A forecast for a loss of 1 billion yen, is an upward revision of a loss of 2 billion yen.

It is almost like there is no correlation between a company's earnings and worker compensation.

That’s often the case, and why wouldn’t it be so? The price of labour is typically determined by the market rate for that type of labour.

I don’t for example decide to pay more for my groceries at the supermarket when I have a boost in income. No, I keep paying the market rate.

For a wage example, kids doing part time jobs don’t get more wages just because business conditions turn up and the people who employ them start to make, rather than lose money.

0 ( +0 / -0 )

I don’t for example decide to pay more for my groceries at the supermarket when I have a boost in income. No, I keep paying the market rate.

Ah. The contradictions of capitalism require tortured explanations to an intended audience of fellow economists?

So when you have a drop in income do you pay less?

And any industry rhat depends on 'kids' labor is heinous.

Most of the laborers are most definitely not kids.

Basically, late stage capitalism demands the best of both worlds for investors: Workers subject to the vagaries of market conditions and the capitalists insulated from this by anti-unionist policies, government bailouts and the mechanisms of financialization which exclude the majority of workers

-1 ( +0 / -1 )

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