According to the Nikkei, 1 out of 3 listed companies reported losses for fiscal 2008. Of the 1,533 listed firms (excluding financials and start-ups) that close their books in March, 552 reported net losses for fiscal 2008. it compares to 177 companies in red for fiscal 2007, and 502 companies in red for fiscal 2001.
The high 2008 tally is partially attributed to firms bringing forward the booking of restructuring costs. Of the 552 companies, 217 companies would have kept themselves in black had they not booked a large one-time expense.
The largest losses were reported by Hitachi (USD 8 bn), Toyota (USD 5.5 bn), Panasonic (USD 4 bn), Toshiba (USD 3.5 bn), Dai-ichi Sankyo (USD 3.5 bn), NEC (USD 3bn) and Nippon Oil (USD 2.5 bn). Dai-ichi Sankyo was very severely hurt by its 2008 acquisition of India's top drug maker, Ranbaxy.
May 15, 2009
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