东京 —— 在一连串上调预期之后，大型日本企业本财年利润预计将增长 20%，达到连续第六个创纪录高位，资本效率改善令并不依赖 AI 热潮的药企等公司受益。
TOKYO -- Profits at big Japanese companies are expected to rise 20% to a sixth straight record high this fiscal year after a string of upgrades, with capital efficiency improvements benefiting companies like drugmakers that are not relying on the AI boom.
根据东京证券交易所 Prime 市场 955 家公司的企业及分析师预测，截至 2027 年 3 月财年的合并净利润预计将达到 64 万亿日元（约合 4000 亿美元）。
Total net profit for the year ending March 2027 is forecast to reach 64 trillion yen ($400 billion), based on corporate and analyst projections for 955 companies on the Tokyo Stock Exchange's Prime market.
这将是自截至 2022 年 3 月财年以来最大增幅，高于截至 4-6 月季度时预测的 14% 增长。销售额预计增长 10% 至 864 万亿日元。
The gain would be the largest since the year ended March 2022 and is higher than the 14% rise projected as of the April-June quarter. Sales are expected to grow 10% to 864 trillion yen.
半导体等协助建设人工智能数据中心的行业是这些增益的主要驱动力。电气机械行业（包含半导体测试设备制造商 Advantest）的净利润有望翻倍。
Semiconductors and other industries helping build artificial intelligence data centers are a major driver of these gains. Net profit in the electrical machinery sector -- which includes semiconductor test equipment maker Advantest -- is on track to double.
但从与 AI 无关领域获利的公司也在享受盈利增长 —— 这在科技行业前景转暗之际显得尤为重要。典型例子是制药行业，企业在削减成本的同时减少对现有品牌药利润的依赖。该行业 22 家公司的整体净利润预计增长近 50%。
But companies that make money from areas unrelated to AI also enjoying earnings growth -- an important factor as the outlook for the tech sector darkens A prime example is the pharmaceutical industry, in which companies are cutting costs while moving away from their reliance on existing brand-name drugs for profit. Overall net profit for the 22 companies in the sector is expected to grow nearly 50%.
随着扩大 帕德西（Padcev） 等抗癌药物销售，安斯泰来制药（Astellas Pharma）有望延续创纪录高利润的势头。
Astellas Pharma looks set to continue its streak of record-high profit as it expands sales of such products as the Padcev cancer drug.
受惠于大宗商品价格上涨，五大综合商社中有四家预期创纪录利润。铜价成为三菱商事（Mitsubishi Corp.）将净利润预期上调至历史新高的因素之一。
Trading houses are benefiting from higher commodity prices, with four of the five big players expecting record profits. Copper was a factor in Mitsubishi Corp. upgrading its net profit forecast to what would be an all-time high.
建筑业在项目选择上更加审慎，聚焦盈利能力，并已将劳动力与材料成本上涨转嫁给客户。清水建设（Shimizu）将全年预期上调至已预期的创纪录利润之上。
The construction industry is getting more selective with projects, focusing on profitability, and has been passing on increased labor and material costs to customers. Shimizu raised its full-year forecast beyond the record profit it had already anticipated.
随着利率上升，银行贷款利率随之走高，利润率得到改善。大型银行以及较小的地方性贷款机构均出现大幅盈利增长，预计接受调查的28家银行和金融集团中，几乎所有机构的利润都将增加。
As interest rates rise, bank lending rates are going up, improving profit margins. Major banks as well as smaller regional lenders are seeing substantial earnings growth, and profits are expected to increase at nearly all of the 28 banks and financial groups examined.
其他有望实现净利润增长的行业包括零售业，家电销售商正享受空调需求旺盛的红利；以及海运业，运费上涨。
Other sectors on track for net profit gains include retail, where appliance sellers are enjoying demand for new air conditioners, and maritime shipping, where freight rates are up.
“大日本企业在过去两三年推进的资本结构改革开始显现成效，”大和证券首席策略师坪井勇吾表示。
"The capital structure reforms that Japanese companies have advanced over the past two or three years are starting to show results," Daiwa Securities chief strategist Yugo Tsuboi said.
截至9月的六个月里，报告净利润同比增长27%至34.6万亿日元，销售额增长14%至431万亿日元。
For the six months through September, reported net profit grew 27% on the year to 34.6 trillion yen, while sales climbed 14% to 431 trillion yen.