Japan In the News: Defying the Downturn
With the global recession, Japan, the world’s #2 economy behind the US, has been one of the most affected due to its high dependence on exports. Severe troubles with the automotive and consumer electronics companies are constantly in the news these days.
But amid all this doom and gloom, several Japanese companies (some multi-national) in different industries have defied the downturn, posting increased revenue and profits:
- Tokyo Disney Resort reported a 12.5% increase in sales and a 41.3% increase in profit in fiscal 2008
- NTT Docomo reported a 70% rise in profits from April to December compared to a year earlier due to the strength of its fixed-line Internet and mobile services
- McDonald’s Japan said its sales in 2008 rose 2.9% to 406 billion yen (US$4B), an all-time record high
- Softbank reported that its operating profit jumped 2.4% in the third quarter of 2008
Just goes to show that there will be winners and losers no matter what the economic condition is.