Once captive to a web of obligations to banks and severely limited by a paucity of investment choices, Japanese manufacturers are enjoying unprecedented growth in income from use of funds. Some large corporations –Nippon Victor, Sanyo Electric and Sharp, for example–are drawing about half their recurring profits from fund revenue. Toyota Motor Corporation’s profit from financial sources is bigger than the profits of some regional banks.
This does not mean, however, that Japanese manufacturers have plunged en masse into financial dealings as a staple of business.
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