Akiyoshi Takumori, an economist at Sumitomo Mitsui Asset Management Co. Cash prizes at this year's sumo tournaments are setting a record. (Bloomberg)
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The fact that companies are spending money on prizes reflects their good corporate profitability. The number of prizes is a gauge of spending on advertising.
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4 Comments
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Kaerimashita
Rubbish. Just don't have anything better to invest it in in Japan.
gaijinfo
"The fact that companies are spending money on prizes reflects the free money policy of the central bank."
Fixed.
nath
Yeah, why rely on stock price values or reported profits when you can gauge their profitability by their ad spending.
JeffLee
They're making profits at pre 2008 levels and giving less to workers. That's why the recession is going on for so long.