Just under half of listed manufacturers have raised their net profit forecasts for the fiscal year ending March 2027, a sharp increase, with price increases and yen depreciation providing a tailwind. Increased AI investment is also cited as a factor behind the improvement in earnings.
In the earnings outlook for listed manufacturers for the fiscal year ending March 2027, companies that raised their net profit forecasts accounted for just under half of the total, the highest proportion since the 2008 Lehman shock. Price increases taking hold, increased investment in artificial intelligence (AI), and yen depreciation are seen as providing a tailwind.
While multiple positive factors for earnings have emerged in the first half, risks of a change in conditions have also been identified, including growing concerns about the financial capacity of US technology companies driving AI investment.