Japan Inc. projects 1% net profit dip on yen uptick and U.S. worries

TOKYO -- Net profit at Japanese blue-chip companies is projected to decline for the first time in four years this fiscal year amid a rebound in the yen and a cloudier outlook for the U.S. economy.

Nikkei tallied earnings projections for about 1,060 businesses listed on the Tokyo Stock Exchange's Prime market, using market forecasts for companies that had not released projections. The total came to 46.5 trillion yen ($316.1 billion), down 1% from fiscal 2023. This is a slight improvement from the 2% decline projected at the start of the fiscal year.