The total amount of income reported by domestic companies and others in the last fiscal year was more than 85 trillion yen, an increase of more than 5.5000 trillion yen from the previous fiscal year and a record high, according to a summary by the National Tax Agency. Experts say that the depreciation of the yen is due to an increase in the profits of corporate exports, especially in the manufacturing industry.
According to the National Tax Agency, the total amount of income filed by more than 334.85 million corporations, including domestic companies, was 106.42 trillion yen last fiscal year.
This was 3,5.5315 billion yen, or 7% higher than in fiscal year 2 of Reiwa, which was the highest since fiscal year 3 for which statistics are kept, and set a new record high for the second consecutive fiscal year.
Looking at declared income by industry, compared to
the previous fiscal year, ▽ manufacturing increased by 2.25% to 4996.19 trillion yen, wholesale trade increased by 3.8% to 4627.27 trillion yen, and cooking, inn, and restaurant industry increased by 3.8499% to <>.<> billion yen
Most industries are above the previous year's level.
Koya Miyamae, senior economist at SMBC Nikko Securities, said, "The depreciation of the yen has led to an increase in profits, especially in the manufacturing industry, and inbound-related consumption has also increased significantly. It will be important for firms to increase investment in people, such as wage increases, in order to promote an increase in consumption and expand the economy in the medium to long term."