In today’s briefing:
- Since Cash on Hand Will Not Decrease in FY2024, Shareholder Returns Remain a Hot Topic
Since Cash on Hand Will Not Decrease in FY2024, Shareholder Returns Remain a Hot Topic
- Most large companies initially estimate sales and profits conservatively, and CapEx, which is often planned more than a year in advance, isn’t often above plan.
- Companies have a cautious earnings outlook, but the market consensus still expects profit growth in FY2024. CapEx growth in the BOJ Tankan is expected to be slightly higher than profits.
- Assuming an 8.5% increase in CapEx for large manufacturing companies and a low single-digit growth in the recurring profit outlook, the level of cash on hand is unlikely to decrease.
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