Top firms’ reserves hit ¥99 trillion

Kyodo

The combined internal reserves, or retained earnings, of Japan’s 100 top companies had grown to ¥99 trillion as of March 31, 2012, according to a recent survey.

That’s 10 percent higher than on March 31, 2009, when Japan was scrambling to deal with the global financial crisis ushered in by the collapse of U.S. investment bank Lehman Brothers Holdings Inc.

The survey, released Sunday by Kyodo News, showed that Japanese companies are retaining profits to brace for another potential slump in business conditions, instead of wage increases or capital spending.