Profits grow as economy recovers

A recent trip to Japan has convinced us that the economic recovery is not only real but has potential to accelerate Many companies have seen a sustained pick-up from mid July ­ even more encouraging was that economic conditions in Osaka and the Kansai region also appear to be bottoming. In recent years the economy there has been weaker than in Tokyo and has pulled down overall growth figures. We now expect third quarter GDP (July to September) to be positive quarter on quarter and our target for March 2000 is above 1%. Assuming another fiscal package, this should accelerate to March 2001 ...