许多3月结算的日本上市公司公布了本财年4月至9月上半期的业绩，在持续的人工智能（AI）热潮带动相关需求强劲的背景下，利润普遍增加。制造业企业表现尤为强劲。多家公司上调了全年业绩预期。
Many publicly traded Japanese companies that close their books in March have reported higher profits for the April-September first half of the current business year, aided by robust demand related to the ongoing artificial intelligence (AI) boom. Companies in the manufacturing sector fared particularly strong. A number of firms revised up their full-year earnings forecasts.
不过，由于中东局势动荡导致原材料成本上升等因素，经营环境的不确定性很高；且在美国中期选举中，主张限制数据中心建设的民主党表现强劲，市场对AI相关投资前景的担忧也在加剧。
However, uncertainty over the business environment is high due to factors including rising raw material costs amid turmoil in the Middle East, while concerns are growing over the outlook for AI-related investment after the U.S. midterm elections saw the Democratic Party, which campaigned on restricting data center construction, perform well.
“我们获得的AI相关需求超出了预期，”松下控股社长楠见雄规对这家大型电子制造商的强劲业绩表示满意。储电系统和数据中心用零部件的销售增加，推动该集团4月至9月的营业利润创下同期历史新高。
“We have received more AI-related demand than we had anticipated,” Panasonic Holdings President Yuki Kusumi said, expressing satisfaction with the major electronics maker’s strong earnings results. Sales of electricity storage systems and components for data centers increased, pushing up the firm’s group operating profit to a record high for the April-September period.
半导体测试设备制造商优测（Advantest）上半期的集团销售额、营业利润和净利润均创历史新高。优测首席执行官道格拉斯·莱费弗（Douglas Lefever）表示：“AI相关半导体市场正经历一段高增长期，现在可以称之为‘超级周期’。”美国科技巨头为争夺算力、激烈竞争开发尖端AI模型，已向数据中心建设投入巨额资金。这使得在芯片制造设备和零部件等构建AI基础设施必不可少的领域拥有优势的日本公司受益。
Chip-testing device maker Advantest posted record group sales, operating profit and net profit for the first-half period. Advantest CEO Douglas Lefever said, “The AI-related semiconductor market is experiencing a period of high growth that could now be described as a ’megacycle.’”U.S. technology companies competing fiercely to develop cutting-edge AI models have invested significant capital into data center construction to secure computing capacity. This has benefited Japanese companies with strengths in chipmaking equipment and parts, which are essential to building AI infrastructure.
据SMBC日兴证券统计，截至周四，东京证券交易所TOPIX指数成分股中、以3月为结算期的967家公司已发布4月至9月业绩，其中690家公司经常利润增加。同时，369家公司上调了全年净利润预期，远多于下调预期的74家公司。
According to a tally by SMBC Nikko Securities, 967 companies with March book closings that are components of the Tokyo Stock Exchange’s Topix stock index have announced their April-September earnings by Thursday, and 690 of them posted higher ordinary profits. Meanwhile, 369 companies raised their full-year net profit forecasts, far outnumbering the 74 that revised down their projections.
日本七大车企中，包括丰田在内的五家公司净利润增加或实现扭亏为盈，得益于日元贬值。然而，中东局势持续动荡，给其业务前景蒙上阴影。
Of Japan’s seven major automakers, five including Toyota posted higher net profits or returned to profitability, buoyed by the yen’s depreciation. However, prolonged turmoil in the Middle East is casting a shadow over their business outlook.
本田表示，受原油价格上涨影响，原材料成本较上年同期增加1700亿日元（约合10.6亿美元）。本田执行副社长海原矩亚表示：“我们别无选择，只能努力消化这些费用，同时与供应商合作降低成本。”
Honda said that raw material costs rose by ¥170 billion ($1.06 billion) from a year earlier amid higher crude oil prices. “We have no choice but to work hard to absorb the expenses while cooperating with our suppliers to reduce costs,” Honda Executive Vice President Noriya Kaihara said.
主要银行集团业绩强劲，因国内利率在长期维持近零水平后上升，贷款利差改善。
Major banking groups reported strong earnings as lending margins improved with rising domestic interest rates, which had remained near zero for a long time.
不过，利率上升对负债沉重的公司构成逆风。其中，日产因利息支出增加抵消了成本削减效果，连续第二年录得上半年集团净亏损。
However, higher interest rates are a headwind for companies with heavy debts. Among them, Nissan posted a first-half group net loss for the second consecutive year as higher interest payments offset the effects of cost cuts.
美国中期选举结果引发了对AI热潮可持续性的担忧。如果美国收紧法规导致数据中心建设热潮降温，这可能会削弱AI增长前景，而该前景此前推动了大规模投资。
The U.S. midterm election results have fueled concerns about the sustainability of the AI boom. If tighter U.S. regulations put the brakes on vigorous data center construction, this could undermine the prospect for AI growth, which has spurred massive investment.
日本科技投资公司软银集团正在大举押注人工智能增长，例如向美国人工智能开发商OpenAI投入总计646亿美元。软银集团高级副总裁兼首席财务官后藤芳光表示，他认为这些投资“从中长期来看将是一个重大利好”。与此同时，其他公司的高管对未来的数据中心建设和人工智能投资表达了担忧。
Japanese technology investor SoftBank Group is betting heavily on AI growth, such as pouring a total of $64.6 billion in U.S. AI developer OpenAI. SoftBank Group Senior Vice President and Chief Financial Officer Yoshimitsu Goto said he believes the investments “will be a major plus in the medium to long term.”Meanwhile, executives at other companies have expressed concerns over data center construction and AI investments going forward.
三菱化学集团执行役员木田稔表示：“中期选举结果‘可能会产生影响，但很难估计投资会放缓多少’。”
The midterm election results “could have an impact, but it is difficult to estimate how much investment would slow,” said Minoru Kida, executive officer of Mitsubishi Chemical Group.
JX Advanced Metals社长林洋一表示：“短期内有可能出现下滑。”
“There is a possibility of a dip in the short term,” said JX Advanced Metals President Yoichi Hayashi.