Corporate revenue jumps 32.7%

JIJI

Operating revenue at profitable companies rose a collective 32.7 percent to ¥1.018 quadrillion in fiscal 2012, according to the latest figures from the National Tax Agency.

The results, released Thursday, reflect the economic rebound, agency officials said.

Entertainment and other expenses rose 0.8 percent to ¥2.9 trillion, posting the first increase in six years.

Deductions carried forward fell 10.4 percent to ¥8.69 trillion, and losses carried over to the following year fell 3.9 percent at ¥73.08 trillion.

Under the corporate tax system, losses can be carried forward to offset taxable income.

Corporate donations fell 5.8 percent to ¥675.5 billion, the first decline in six years, mostly due to a fall-off after the March 2011 earthquake and tsunami. In fiscal 2011, corporate donations hit a record high.

All figures were estimated based on a survey of about 1.36 million of the about 2.53 million or so businesses nationwide.