TOKYO (AFX-ASIA) - The parent level pretax profit of non-financial companies in the first quarter fell 14.6 pct year-on-year, compared with a fall of 31.4 pct the previous quarter, the Ministry of Finance said.
The ministry provided the following first quarter year-on-year breakdown for non-financial companies, compared with the previous quarter:
Total:
Parent pretax profit - down 14.6 pct vs down 31.4
Capex - down 16.8 pct vs down 14.5
Manufacturers:
Parent pretax profit - down 42.2 pct vs down 50.6
Capex - down 27.8 pct vs down 11.5
Non-manufacturers:
Parent pretax profit - up 6.9 pct vs down 15.3
Capex - down 11.0 pct vs down 15.8
Private-sector economists forecast first quarter non-financial firms' parent pretax profit of around a fall of 15-28 pct yr-on-yr, with capex seen down around 11-17 pct.