JAPAN CORPORATE PROFITS IN LAST 1986 QUARTER UP
Current profits of Japan's major firms in
the October-December quarter rose four pct from a year earlier
to 5,654 billion yen against a 2.6 pct year-on-year rise in the
preceding quarter, the Finance Ministry said.
    The improved earnings resulted mainly from a 22.5 pct
profit increase in non-manufacturing industries, supported by
an 88.7 pct rise for construction firms and a 138 pct gain in
real estate, according to a ministry survey.
    Total sales of the 15,308 firms with capital of 10 mln yen
or more which responded to the poll, fell one pct to 217,217
billion yen against a 1.2 pct fall the previous quarter.
    Current profits of manufacturing industries in the fourth
quarter dropped 13.7 pct to 2,394 billion yen against a 22.1
pct fall in the preceding quarter, the ministry said.
    Plant and equipment investments of all firms polled fell
3.9 pct to 8,004 billion yen, compared with a 1.4 percent fall
the previoius quarter.
    Ministry officials said the survey showed that the Japanese
economy is in a delicate stage in which it is hard to tell if
economic growth has stopped deteriorating or if the economy is
heading for a recovery.
 REUTER
