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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Japan Inc. says recovery unlikely this year: polls AFP - 1 hour 9 minutes ago TOKYO (AFP) - - Major Japanese companies are bearish over the prospects for the country's crisis-hit economy, with a majority of them seeing a recovery as unlikely until 2010, surveys showed on Sunday. The Mainichi Shimbun carried out a corporate sentiment survey in late December, covering 121 major companies across the nation, including leading names such as Toyota Motor Corp. and Sony Corp. The poll showed that 41 percent of the respondents said the Japanese economy would recover in the first half of 2010 and 24 percent said a rebound would come in the second half of next year. None at all expected the economy to recover in the first half of this year, while 22 percent forecast that things will get better later this year. According to a separate poll carried out by the Tokyo Shimbun, 68 percent of companies said the economy would pick up next year, while 14 percent said the recovery would be delayed until 2011 or later. One in four companies said they have already cut or planned to cut temporary contract workers, according to the survey carried out in December of 208 major companies. Japanese companies have cut tens of thousands of jobs, mostly temporary contract workers, as demand for cars, cameras and other products wanes amid the global financial crisis. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy China violates accord with Japan over disputed gas field: reportAFP - 1 hour 7 minutes ago Japan Inc. says recovery unlikely this year: pollsAFP - 1 hour 9 minutes ago Chinese manufacturing shrinks in DecemberAP - 2 hours 36 minutes ago Bank of Japan chief eyes action on strong yenAFP - Sunday, January 4 Related Articles: Business Vietnam workers strike over alleged abuses: reportsAFP - 53 minutes ago China violates accord with Japan over disputed gas field: reportAFP - 1 hour 7 minutes ago Japan Inc. says recovery unlikely this year: pollsAFP - 1 hour 9 minutes ago Most Japan firms see economy worsening in '09-reportReuters - 1 hour 18 minutes ago Chinese manufacturing shrinks in DecemberAP - 2 hours 36 minutes ago Enlarge Photo Japan Inc. says recovery unlikely this year: polls Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed US steel industry in collapse, eyes government aid: report Rare Bugatti untouched for 50 years could fetch millions: report World's oldest person dies at the age of 115 Vogue editor biggest fashion flop of 08: Time Paulson blames global imbalances for credit crisis: report View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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