Mizuho, Sumitomo Mitsui Post Lower Profits
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Mizuho and Sumitomo Mitsui, two of Japan&#39;s four biggest banking groups, reported Monday that their group net profits for the first fiscal half fell from the previous year, despite some progress in getting rid of bad debts.
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Japan's Nikkei average closed lower on  Thursday, snapping a three-day gaining streak, as profit-taking  hit auto makers and other exporters that had attracted buyers  on the back of extended gains on Wall Street.
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Mizuho, one of Japan&#39;s four biggest banking groups, reported Monday that group net profit for the first fiscal half fell 8.4 percent from the previous year, despite some progress in getting rid of bad debts.
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Tokyo's Nikkei average slipped 0.07  percent by midday on Wednesday, pressured by falls in real  estate firm Mitsui Fudosan Co. and others dependent on domestic  demand after growth data came in weaker than expected.
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A massive cell-phone battery recall helped drive down the profit of Matsushita, maker of Panasonic brand products, by 17 percent in the second quarter.
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Japanese small-caps are among the world&#39;s worst-performing stocks. The main indices took a tumble at the beginning of last year and analysts say they are not likely to return to their January 2006 records.
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merica&#39;s largest and most profitable companies paid less in corporate income taxes in the last three years, even as they increased profits, according to a study released yesterday.
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Luxury jeweler Tiffany & Co.  TIF.N  on Thursday posted lower-than-expected quarterly earnings and  slashed its profit forecast, hurt by lackluster sales in Japan  and higher costs for precious metals and diamonds.
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Tokyo's Nikkei average opened down 0.25 percent on Monday as investors locked in profits on gainers such as insurers and real estate firms following the market's recent rise.
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Nippon Telegraph and Telephone Corp., Japan's top telecommunications company, reported a 21.8 percent drop in profit for the April-December period Monday due to declines in voice and fixed-line operations.
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Mitsubishi Tokyo Financial Group Inc. announced Wednesday its group net profit fell 43.1 percent in the fiscal first half from a year earlier to 171.7 billion yen, while merger partner UFJ
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Mizuho, Japan's biggest bank, says a sharp fall in bad debts means good news ahead - despite a dip in current profits.
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Toyota Motor Corp., Japan&#39;s biggest automaker, reported earnings slipped in the second fiscal quarter but posted a record profit for the first fiscal half as sales growth in North America, Europe and Japan offset losses from an unfavorable exchange rate.
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Sales were lower than expected, and the quality of earnings is in question.
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The Nikkei share average closed down 0.38  percent on Wednesday as exporters such as Honda Motor Co. met  profit-taking, and real estate firms and others dependent on  domestic demand sank after weaker than expected growth data.
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Two large Wall Street firms - Morgan Stanley and Bear Stearns - reported a fall in quarterly profits yesterday in sharp contrast to rival players who presented an upbeat performance the day before.
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Nissan, Japan's third-largest carmaker, sees profits fall 23%, hit by lower sales and higher raw material costs.