TOKYO: Major Japanese firms wrapped up the latest earnings season on a high note, more than doubling their net profit in the three months to June, a new report showed on Monday.

Brokerage SMBC Nikko Securities said that its review of company financial results showed combined net profits surged about 112 percent from the April to June quarter a year earlier, while operating profit jumped 33 percent among some of Japan Inc.’s biggest names. A pick-up in consumer spending and a sharp decline in the yen, which makes exporters such as Toyota and Sony more competitive overseas, were behind the boost in profits, the company said.

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