• Kyodo News

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Fifteen major manufacturers plan to cut capital investment in fiscal 2009 by 24.4 percent from the previous year to ¥3.61 trillion, indicating they are prioritizing production cuts while the timing of the recession’s bottoming out remains uncertain.

The companies’ total earnings for the year ending next March represent a decline of ¥1.17 trillion from fiscal 2008 and a fall of nearly ¥2 trillion from fiscal 2007, according to their latest earnings reports.

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