Summary of Survey Results

1. Summary - As of March 31, 2018, 37,310 companies were sampled by the Basic Survey of Japanese

Business Structure and Activities. As a result, valid responses were obtained from 29,357 companies (valid response rate of 78.7%).

- Of these entities, the number of companies engaged in industries targeted by the survey was 27,988 (numbers are hereinafter indicated using total values), and such companies owned 396,000 business establishments, employed 14.32 million regular workers and generated sales of 692.9 trillion yen.

- The corporate operating profit and ordinary profit of the companies were 28.1 trillion yen and 38.4 trillion yen, respectively, and the number of subsidiaries owned by the companies was 95,000.

Chart 1-1 Main Figures

Number of regularworkers Sales Operating profit Ordinary profit

(Number of employees) (Hundred million yen) (Hundred million yen) (Hundred million yen)

FY2016 30,151 428,978 15,139,983 6,887,222 268,179 352,762 100,466FY2017 29,357 418,430 15,005,969 7,173,763 304,167 408,513 100,041

Y/Y change (%) ▲ 2.6 ▲ 2.5 ▲ 0.9 4.2 13.4 15.8 ▲ 0.4FY2016 28,715 403,944 14,376,793 6,621,822 244,911 328,674 95,463FY2017 27,988 395,700 14,323,872 6,929,226 280,649 383,867 95,251

Y/Y change (%) ▲ 2.5 ▲ 2.0 ▲ 0.4 4.6 14.6 16.8 ▲ 0.2FY2016 35 196 6,573 5,418 1,048 1,738 250FY2017 38 201 6,359 5,679 1,133 1,258 246

Y/Y change (%) 8.6 2.6 ▲ 3.3 4.8 8.1 ▲ 27.6 ▲ 1.6FY2016 12,870 75,506 5,265,571 2,713,399 128,651 188,217 51,898FY2017 12,634 75,403 5,259,545 2,838,782 155,581 220,321 51,917

Y/Y change (%) ▲ 1.8 ▲ 0.1 ▲ 0.1 4.6 20.9 17.1 0.0FY2016 136 1,985 174,662 210,446 9,522 8,716 1,642FY2017 137 1,998 171,532 227,482 10,001 9,807 1,497

Y/Y change (%) 0.7 0.7 ▲ 1.8 8.1 5.0 12.5 ▲ 8.8FY2016 2,660 13,417 1,072,301 283,545 20,783 22,828 5,421FY2017 2,569 13,416 1,062,849 294,559 21,763 24,559 5,703

Y/Y change (%) ▲ 3.4 0.0 ▲ 0.9 3.9 4.7 7.6 5.2FY2016 5,710 67,981 1,546,256 2,109,086 36,090 54,044 23,942FY2017 5,576 65,547 1,508,257 2,249,033 43,202 74,215 23,475

Y/Y change (%) ▲ 2.3 ▲ 3.6 ▲ 2.5 6.6 19.7 37.3 ▲ 2.0FY2016 3,556 154,935 3,319,091 865,069 24,164 26,118 4,540FY2017 3,464 153,255 3,322,812 878,266 24,361 26,448 4,659

Y/Y change (%) ▲ 2.6 ▲ 1.1 0.1 1.5 0.8 1.3 2.6FY2016 83 1,123 58,476 27,546 3,282 3,410 138FY2017 79 1,072 55,737 28,817 3,239 3,399 168

Y/Y change (%) ▲ 4.8 ▲ 4.5 ▲ 4.7 4.6 ▲ 1.3 ▲ 0.3 21.7FY2016 313 6,691 103,735 88,872 4,429 5,044 1,559FY2017 304 6,596 112,399 96,408 4,523 5,173 1,618

Y/Y change (%) ▲ 2.9 ▲ 1.4 8.4 8.5 2.1 2.6 3.8FY2016 629 5,754 263,893 120,663 4,723 5,691 2,842FY2017 578 5,383 244,921 114,227 4,518 5,298 2,604

Y/Y change (%) ▲ 8.1 ▲ 6.4 ▲ 7.2 ▲ 5.3 ▲ 4.3 ▲ 6.9 ▲ 8.4FY2016 592 47,339 1,031,467 54,189 2,243 2,302 675FY2017 574 44,063 1,026,796 53,884 2,012 2,182 680

Y/Y change (%) ▲ 3.0 ▲ 6.9 ▲ 0.5 ▲ 0.6 ▲ 10.3 ▲ 5.2 0.7FY2016 678 11,605 287,740 33,300 2,833 3,050 764FY2017 653 12,161 292,976 33,492 3,223 3,567 745

Y/Y change (%) ▲ 3.7 4.8 1.8 0.6 13.8 17.0 ▲ 2.5FY2016 14 714 11,016 968 25 29 5FY2017 15 662 11,229 1,038 33 36 7

Y/Y change (%) 7.1 ▲ 7.3 1.9 7.2 32.0 24.1 40.0FY2016 1,439 16,698 1,236,012 109,321 7,118 7,488 1,787FY2017 1,367 15,943 1,248,460 107,561 7,061 7,604 1,932

Y/Y change (%) ▲ 5.0 ▲ 4.5 1.0 ▲ 1.6 ▲ 0.8 1.5 8.1FY2016 481 12,503 361,859 93,632 8,085 8,492 1,610FY2017 455 10,723 314,718 91,102 8,492 9,025 1,525

Y/Y change (%) ▲ 5.4 ▲ 14.2 ▲ 13.0 ▲ 2.7 5.0 6.3 ▲ 5.3FY2016 955 12,531 401,331 171,768 15,183 15,597 3,393FY2017 914 12,007 367,379 153,435 15,027 15,621 3,265

Y/Y change (%) ▲ 4.3 ▲ 4.2 ▲ 8.5 ▲ 10.7 ▲ 1.0 0.2 ▲ 3.8

Services (Other Services)

Other Industries

(Note) As for “Services (*),” see Notes on Use (on page 2).

Goods Rental and Leasing

Scientific Research, Professionaland Technical Service

Eating and Drinking Services

Living-related and PersonalServices and AmusementServices

Private Instruction Sites

Services (*)

Credit Card and InstallmentFinance Businesses

Number ofcompanies

Number ofestablishments

Number ofsubsidiaries owned

Grand Total

Total

Mining and Quarrying of Stone andGravel

Manufacturing

Electricity and Gas

Information and Communications

Wholesale Trade

Retail Trade

- The average number of business establishments owned per company in the total was 14.1 (remained at the same level on a Y/Y change basis). The average number of regular workers was 512 persons (up 2.2% on a Y/Y change basis). Average sales were 247.6 hundred million yen (up 7.4% on a Y/Y change basis).

- Among manufacturing companies, sales per company rose to 224.7 hundred million yen (up 6.6% on a Y/Y change basis), average operating profit rose to 12.3 hundred million yen (up 23.2%), and average ordinary profit rose to 17.4 hundred million yen (up 19.2%).

- Among wholesale trade companies, sales per company rose to 403.3 hundred million yen (up 9.2% on a Y/Y change basis), average operating profit rose to 7.7 hundred million yen (up 22.6%), and average ordinary profit rose to 13.3 hundred million yen (up 40.6%).

- Among retail trade companies, sales per company rose to 253.5 hundred million yen (up 4.2% on a Y/Y change basis), average operating profit rose to 7.0 hundred million yen (up 3.5%), and average ordinary profit also rose to 7.6 hundred million yen (up 3.9%).

Chart 1-2 Sales per Company in Major Industries

Chart 1-3 Main Figures per Company Number of regular

workersSales Operating profit Ordinary profit

(Number of employees) (million yen) (million yen) (million yen)

FY2016 14.1 501 23,060.5 852.9 1,144.6 7.4FY2017 14.1 512 24,757.8 1,002.7 1,371.5 7.6

Y/Y change (%) 0.0 2.2 7.4 17.6 19.8 0.2FY2016 5.6 188 15,479.9 2,993.3 4,964.8 10.9FY2017 5.3 167 14,945.3 2,980.6 3,310.4 10.7

Y/Y change (%) ▲ 0.3 ▲ 11.2 ▲ 3.5 ▲ 0.4 ▲ 33.3 ▲ 0.2FY2016 5.9 409 21,083.1 999.6 1,462.4 8.7FY2017 6.0 416 22,469.4 1,231.4 1,743.9 8.8

Y/Y change (%) 0.1 1.7 6.6 23.2 19.2 0.1FY2016 14.6 1,284 154,739.7 7,001.5 6,409.0 19.3FY2017 14.6 1,252 166,044.9 7,299.9 7,158.0 17.4

Y/Y change (%) 0.0 ▲ 2.5 7.3 4.3 11.7 ▲ 1.9FY2016 5.0 403 10,659.6 781.3 858.2 5.2FY2017 5.2 414 11,465.9 847.1 956.0 5.6

Y/Y change (%) 0.2 2.7 7.6 8.4 11.4 0.4FY2016 11.9 271 36,936.7 632.1 946.5 7.7FY2017 11.8 270 40,334.2 774.8 1,331.0 7.7

Y/Y change (%) ▲ 0.1 ▲ 0.4 9.2 22.6 40.6 0.0FY2016 43.6 933 24,327.0 679.5 734.5 3.4FY2017 44.2 959 25,354.1 703.3 763.5 3.5

Y/Y change (%) 0.6 2.8 4.2 3.5 3.9 0.1FY2016 13.5 705 33,187.9 3,953.7 4,108.4 4.2FY2017 13.6 706 36,476.7 4,099.6 4,302.8 5.1

Y/Y change (%) 0.1 0.1 9.9 3.7 4.7 0.9FY2016 21.4 331 28,393.5 1,414.9 1,611.4 14.4FY2017 21.7 370 31,713.1 1,487.8 1,701.6 15.9

Y/Y change (%) 0.3 11.8 11.7 5.2 5.6 1.5FY2016 9.1 420 19,183.4 750.9 904.8 9.9FY2017 9.3 424 19,762.4 781.6 916.5 10.2

Y/Y change (%) 0.2 1.0 3.0 4.1 1.3 0.3FY2016 80.0 1,742 9,153.5 378.9 388.8 3.3FY2017 76.8 1,789 9,387.5 350.5 380.1 3.3

Y/Y change (%) ▲ 3.2 2.7 2.6 ▲ 7.5 ▲ 2.2 0.0FY2016 17.1 424 4,911.6 417.9 449.8 3.8FY2017 18.6 449 5,129.0 493.6 546.3 3.9

Y/Y change (%) 1.5 5.9 4.4 18.1 21.5 0.1FY2016 51.0 787 6,916.1 182.0 206.2 1.7FY2017 44.1 749 6,918.1 220.0 242.2 2.3

Y/Y change (%) ▲ 6.9 ▲ 4.8 0.0 20.9 17.5 0.6FY2016 11.6 859 7,597.0 494.6 520.4 4.2FY2017 11.7 913 7,868.4 516.5 556.3 4.8

Y/Y change (%) 0.1 6.3 3.6 4.4 6.9 0.6

Number ofestablishments

Number ofsubsidiaries

owned

Mining and Quarryingof Stone and Gravel

Credit Card andInstallment FinanceBusinesses

Goods Rental andLeasing

Retail Trade

Wholesale Trade

Information andCommunications

Electricity and Gas

Manufacturing

Scientific Research,Professional andTechnical Service

Eating and DrinkingServices

Private InstructionSites

Living-related andPersonal Services andAmusement Services

Services (*)

Total

(Note 2) The number of subsidiaries per company is the figure obtained by dividing the total number of subsidiaries by the number of companies that own subsidiaries.

(Note 3) Y/Y change for the number of establishments per company and subsidiaries per company are the differences between this fiscal year and the previous fiscal year.

(Note 1) The total per company is the average number per company with regard to the total value of a relevant industry and is not obtained by adding up figures per company in each industry. The same applies hereinafter.

2. Sales and profit conditions Among manufacturing and wholesale trade companies, sales per company increased for the first time in four years, and among retail trade companies, sales per company increased for the first time in two years Ordinary profit per company increased for two consecutive years for manufacturing companies and wholesale trade companies and for the first time in two years for retail trade companies

- Among manufacturing companies, sales per company increased for the first time in four years (up 6.6% on a Y/Y change basis). Operating profit also increased for the first time in four years (up 23.2%). Meanwhile, ordinary profit increased for two consecutive years (up 19.2%) due partially to a decrease in non-operating expenses. Looking at the increase in ordinary profit by type of business, companies engaged in businesses such as industrial chemistry and transportation machinery and equipment manufacturing showed an increase.

- Among wholesale trade companies, sales per company increased for the first time in four years (up 9.2% on a Y/Y change basis). Operating profit increased for three consecutive years (up 22.6%) and ordinary profit increased for two consecutive years (up 40.6%). Looking at the increase in ordinary profit by type of business, companies engaged in businesses such as petroleum and minerals wholesale trades and chemical products wholesale trades showed an increase.

- Among retail trade companies, sales per company increased for the first time in two years (up 4.2% on a Y/Y change basis). Both operating profit (up 3.5%) and ordinary profit (up 3.9%) increased for the first time in two years. Looking at the increase in ordinary profit by type of business, companies engaged in businesses such as medical products and cosmetics retail trades and foods and beverages retail trades showed an increase.

Chart 2-1 Sales, Operating Profit, Ordinary Profit, and Current Net Profit per Company in Major Industries

[Manufacturing]

［Wholesale Trade］

[Retail Trade]

FY2016 FY2017 Y/Y change (%) Difference

Sales 21,083.1 22,469.4 6.6 1,386.3

Operating costs 20,083.5 21,237.9 5.7 1,154.4

Cost of sales 16,821.1 17,860.4 6.2 1,039.3Sales and general administrative expenses 3,262.4 3,377.6 3.5 115.2

【Operating profit】 999.6 1,231.4 23.2 231.8

　Non-operating income 684.2 716.6 4.7 32.4　Non-operating expenses 221.4 204.2 ▲ 7.8 ▲ 17.2

【Ordinary profit】 1,462.4 1,743.9 19.2 281.5

【Net income】 983.1 1,310.4 33.3 327.3

ManufacturingPer company (million yen)

FY2016 FY2017 Y/Y change (%) Difference

Sales 36,936.7 40,334.2 9.2 3,397.5

Operating costs 36,304.7 39,559.4 9.0 3,254.7

Cost of sales 32,603.1 35,783.7 9.8 3,180.6Sales and general administrative expenses 3,701.6 3,775.6 2.0 74.0

【Operating profit】 632.1 774.8 22.6 142.7

　Non-operating income 501.3 731.0 45.8 229.7　Non-operating expenses 186.9 174.8 ▲ 6.5 ▲ 12.1

【Ordinary profit】 946.5 1,331.0 40.6 384.5

【Net income】 669.7 1,009.4 50.7 339.7

Wholesale tradePer company (million yen)

FY2016 FY2017 Y/Y change (%) Difference

Sales 24,327.0 25,354.1 4.2 1,027.1

Operating costs 23,647.5 24,650.8 4.2 1,003.3

Cost of sales 17,370.4 18,189.5 4.7 819.1Sales and general administrative expenses 6,277.1 6,461.3 2.9 184.2

【Operating profit】 679.5 703.3 3.5 23.8

　Non-operating income 140.2 146.7 4.6 6.5　Non-operating expenses 85.3 86.5 1.4 1.2

【Ordinary profit】 734.5 763.5 3.9 29.0

【Net income】 389.1 435.7 12.0 46.6

Retail tradePer company (million yen)

(Note) Figures indicated in parentheses are calculated based on units of million yen,

2. Sales and profit conditions (continued) The ratio of ordinary profit to sales reached record highs both in the manufacturing (7.8%) and wholesale sectors (3.3%) from when the survey first began in FY 1992. - Among manufacturing companies, the ratio of operating profit to sales rose to 5.5% (up 0.8 percentage points on a Y/Y change basis) and the ratio of ordinary profit to sales also rose to 7.8% (up 0.9 percentage points).

- Among wholesale trade companies, both the ratio of operating profit to sales and the ratio of ordinary profit to sales rose to 1.9% (up 0.2 percentage points on a Y/Y change basis) and 3.3% (up 0.7 percentage points), respectively, because both the operating profit and ordinary profit increased.

- Among retail trade companies, both the ratio of operating profit to sales (2.8%) and the ratio of ordinary profit to sales (3.0%) remained at the same level on a Y/Y change basis, although both the operating profit and ordinary profit increased.

- Looking at the percentages of companies making ordinary profit, the percentage of manufacturing companies increased to 90.6% (up 1.0% percentage points on a Y/Y change basis), the percentage of wholesale trade companies increased to 93.9% (up 0.3 percentage points) and the percentage of retail trade companies increased to 89.0% (up 1.3 percentage points).

Chart 2-2 Operating Margins and Ratios of Ordinary Profit to Sales in Major Industries

Manufacturing

Wholesale trade Retail trade

Chart 2-3 Percentages of Companies Making Ordinary Profit in Major Industries

3. Value-added trends Value Added per Company in All Major Industries Increased

- Among manufacturing companies, the value added per company increased due to an increase in operating profit, total payroll, etc. (up 6.7% on a Y/Y change basis).

- Among wholesale trade companies, the value added per company increased for five consecutive years. In the past three years, the said value added increased due to an increase in operating profit, etc. (up 8.2%).

- Among retail trade companies, the value added per company increased for the first time in two years due to an increase in total payroll, operating profit, etc. (up 3.7%).

(Note 1) Value added = Operating profit + Total payroll + Depreciation expenses + Welfare expenses + Real estate and movables property rental + Taxes and public imposition

(Note 2) Ratio of value added = Value added ÷ Sales × 100

Chart 3-1 Value Added per Company and Ratio of Value Added in Major Industries

Chart 3-2 Year-on-Year Change in Value Added per Company

and the Contribution of Each Category in Major Industries Manufacturing Wholesale trade Retail trade

Chart 3-3 Value Added and Contribution per Company in Major Industries

FY2016 FY2017 FY2016 FY2017

Total 4,322.9 4,321.6 4,580.2 0.0 6.0 18.2 18.7 18.5 0.5 ▲ 0.2

Manufacturing 4,657.8 4,661.0 4,971.1 0.1 6.7 21.2 22.1 22.1 0.9 0.0

Wholesale Trade 2,598.0 2,706.1 2,927.8 4.2 8.2 6.9 7.3 7.3 0.4 0.0

Retail trade 4,682.4 4,642.8 4,812.6 ▲ 0.8 3.7 19.2 19.1 19.0 ▲ 0.1 ▲ 0.1

Value added per company (million yen) Ratio of value added (%)

FY2015 FY2016 FY2017Y/Y change (%)

FY2015 FY2016 FY2017Y/Y change（％ point）

FY2016 FY2017 Contribution (%) FY2016 FY2017 Contribution (%) FY2016 FY2017 Contribution (%)

Value Added 4,661.0 4,971.1 6.7 Value Added 2,706.1 2,927.8 8.2 Value Added 4,642.8 4,812.6 3.7Operating profit 999.6 1,231.4 5.0 Operating profit 632.1 774.8 5.3 Operating profit 679.5 703.3 0.5Total payroll 2,229.1 2,290.7 1.3 Total payroll 1,379.5 1,417.8 1.4 Total payroll 2,305.3 2,381.1 1.6Depreciation expenses 681.8 701.8 0.4 Depreciation expenses 192.7 196.2 0.1 Depreciation expenses 353.9 365.9 0.3Welfare expenses 458.1 464.8 0.1 Welfare expenses 259.0 285.9 1.0 Welfare expenses 331.7 354.9 0.5Real estate and movables property rental 189.6 171.7 ▲ 0.4 Real estate and movables property rental 188.7 191.9 0.1 Real estate and movables property rental 876.3 900.1 0.5Taxes and public imposition 102.8 110.7 0.2 Taxes and public imposition 54.1 61.2 0.3 Taxes and public imposition 96.2 107.3 0.2

Per company (million yen)【Retail Trade】

Per company (million yen)【Manufacturing】

Per company (million yen)【Wholesale Trade】

4. Labor productivity and labor's share

Labor productivity increased and labor’s share decreased

- Looking at labor productivity (value added per regular worker) in major industries, such value added increased in all major industries; 11.941 million yen (up 4.8% on a Y/Y change basis) among manufacturing companies; 10.824 million yen (up 8.3%) among wholesale trade companies; and 5.017 million yen (up 0.9%) among retail trade companies.

- Looking at labor’s share in major industries, the share decreased in all major industries; 46.1% (down 1.7% on a Y/Y change basis) among manufacturing companies; 48.4% (down 2.6%) among wholesale trade companies; 49.5% (down 0.2%) among retail trade companies.

Chart 4-1 Labor Productivity and Labor’s Share in Major Industries

(Note 1) Labor productivity is an index used for productivity analysis and indicating value added per employee. In the

above table, labor productivity was calculated as follows. Labor productivity = Value added ÷ Number of regular workers

(Note 2) Labor’s share is an index indicating personnel costs relative to value added and showing how much value newly generated by a company is allocated to personnel costs. In the above table, labor’s share was calculated as follows. Labor’s share = Total payroll ÷ Value added × 100

Chart 4-2 Trends in Labor Productivity and Labor’s Share in Major Industries

Manufacturing Wholesale trade Retail trade

FY2016 FY2017 FY2016 FY2017Total 859.1 863.2 894.9 0.5 3.7 48.6 48.8 47.7 0.2 ▲ 1.1

Manufacturing 1,137.2 1,139.2 1,194.1 0.2 4.8 48.0 47.8 46.1 ▲ 0.2 ▲ 1.7Wholesale Trade 967.4 999.3 1,082.4 3.3 8.3 52.7 51.0 48.4 ▲ 1.7 ▲ 2.6Retail trade 495.3 497.4 501.7 0.4 0.9 49.2 49.7 49.5 0.5 ▲ 0.2

FY2017Y/Y change (% point)

FY2016 FY2017Y/Y change (%)

FY2015 FY2016

Labor productivity (10 thousand yen) Labor’s share (%)

FY2015

5. Asset conditions Capital Adequacy Ratio per Company in Major Industries Is in an Upward Trend

- The capital adequacy ratio for all manufacturing, wholesale trade and retail trade companies is in an upward trend due to an increase in net assets, indicating that there is more stability in the management.

Chart 5-1 Breakdown of Assets and Liabilities and Net Assets per Company in Major Industries

Manufacturing

Management of funds Procurement of funds

Wholesale trade

Management of funds Procurement of funds

Retail trade

Management of funds Procurement of funds

Chart 5-2 Capital Adequacy Ratio per Company in Major Industries

6. Cost trends

Operating Costs per Company in All Major Industries Decreased - The ratio of cost of sales per company decreased for three consecutive years for manufacturing and increased for the first time in four years for wholesale trade companies. Retail trade companies saw an increase for two consecutive years.

Chart 6-1 Total Operating Costs, Cost of Sales, and Sales and General Administrative Expenses per Company in Major Industries

Chart 6-2 Sales, Cost of Sales, and Sales and General Administrative Expenses, Ratio of Cost of Sales, and Ratio of Sales and General Administrative Expenses

in Major Industries

Manufacturing

Wholesale trade Retail trade

FY2016 FY2017 FY2016 FY2017 FY2016 FY2017

Total 22,859.7 22,207.6 23,755.1 ▲ 2.9 7.0 19,186.0 18,545.3 19,954.9 ▲ 3.3 7.6 3,673.6 3,662.3 3,800.2 ▲ 0.3 3.8

Manufacturing 20,959.9 20,083.5 21,237.9 ▲ 4.2 5.7 17,685.6 16,821.1 17,860.4 ▲ 4.9 6.2 3,274.2 3,262.4 3,377.6 ▲ 0.4 3.5

Wholesale trade 36,861.5 36,304.7 39,559.4 ▲ 1.5 9.0 33,174.9 32,603.1 35,783.7 ▲ 1.7 9.8 3,686.6 3,701.6 3,775.6 0.4 2.0

Retail trade 23,741.2 23,647.5 24,650.8 ▲ 0.4 4.2 17,431.9 17,370.4 18,189.5 ▲ 0.4 4.7 6,309.4 6,277.1 6,461.3 ▲ 0.5 2.9

FY2016 FY2017Y/Y change (%)Y/Y change (%)

FY2015 FY2016 FY2017Y/Y change (%)

FY2015

Total operating costs (million yen) Cost of sales (million yen) Sales and general administrative expenses(million yen)

FY2015 FY2016 FY2017

7. Employment conditions The number of full-time workers and staff per company marked a record high (324

persons) since the FY 2006 survey, for which comparable data exists - Except for wholesale trade companies, which remained unchanged, the number of full-time

workers and staff per company increased in manufacturing and retail trade companies.

Chart 7-1 Trends in Number of Workers per Company by Employment Pattern (Total)

Chart 7-2 Number of Workers per Company by Employment Pattern Total Manufacturing

Wholesale trade Retail trade

Chart 7-3 Number of Workers by Major Industry

FY2015 FY2016 FY2017 FY2015 FY2016 FY2017 FY2015 FY2016 FY2017

14,471,054 14,376,793 14,323,872 9,109,736 9,175,701 9,055,794 4,432,021 4,261,628 4,512,669Y/Y change (%) 2.9 ▲ 0.7 ▲ 0.4 1.5 0.7 ▲ 1.3 4.5 ▲ 3.8 5.9

Manufacturing 5,280,149 5,265,571 5,259,545 4,517,099 4,516,166 4,476,612 542,171 532,264 637,173Y/Y change (%) 1.7 ▲ 0.3 ▲ 0.1 1.9 ▲ 0.0 ▲ 0.9 1.4 ▲ 1.8 19.7

Wholesale trade 1,548,699 1,546,256 1,508,257 1,257,660 1,262,331 1,230,302 247,857 243,220 253,090Y/Y change (%) ▲ 0.6 ▲ 0.2 ▲ 2.5 0.2 0.4 ▲ 2.5 ▲ 0.0 ▲ 1.9 4.1

Retail trade 3,363,597 3,319,091 3,322,812 1,174,510 1,177,538 1,174,325 2,118,556 2,078,101 2,111,325Y/Y change (%) 3.2 ▲ 1.3 0.1 0.7 0.3 ▲ 0.3 4.0 ▲ 1.9 1.6

Regular workers (unit: person) Full-time workers and staff(unit: person)

Workers (such as part-timers) otherthan full-time workers and staff

(unit: person)

Total

8. Ownership of subsidiaries Among manufacturing companies, the number of companies that own overseas

subsidiaries has continued to be in an upward trend - Looking at the percentages of overseas subsidiaries owned by manufacturing companies by region, the percentage shares of China were in a downward trend, while the percentage shares of Asia (other than China), North America, etc. were in an upward trend.

Note: As used herein, “subsidiaries” include affiliated companies.

Chart 8-1 Number of Companies that Own Subsidiaries and Ownership Ratio in Major Industries

(Note 1) Percentage of companies owning domestic subsidiaries = number of companies that own subsidiaries /

number of companies submitting valid responses

Chart 8-2 Number of Companies that Own Subsidiaries and Number of Subsidiaries in Major Industries,

by Domestic and Overseas Subsidiaries

(Note 2) Number of domestic subsidiaries owned per company= Number of domestic subsidiaries / Number of

companies that own domestic subsidiaries (Note 3) Number of overseas subsidiaries owned per company= Number of overseas subsidiaries / Number of

companies that own overseas subsidiaries

Chart 8-3 Percentages of Companies that Own Subsidiaries, by Domestic and Overseas Subsidiaries in Manufacturing

Chart 8-4 Number of Subsidiaries Owned per Company in Manufacturing

Ownership ratio Number of subsidiaries

Chart 8-5 Number of Overseas Subsidiaries in Manufacturing by Region

FY2017FY2016 FY2017

Total 27,988 12,751 12,836 12,580 44.3 44.7 44.9 0.4 0.2Manufacturing 12,634 5,970 5,983 5,911 46.3 46.5 46.8 0.2 0.3Wholesale Trade 5,576 3,104 3,091 3,034 53.8 54.1 54.4 0.3 0.3Retail trade 3,464 1,333 1,352 1,319 37.5 38.0 38.1 0.5 0.1

FY2015 FY2016 FY2017Y/Y change (% point)

Number ofcompanies

Number of companies that own subsidiaries

FY2015 FY2016 FY2017Ownership ratio (%)

% of thetotal

FY2016 FY2017 % of thetotal

FY2016 FY2017

Total 10,556 49,309 100.0 4.7 4.7 4.7 0.0 0.0 5,668 45,942 100.0 7.8 7.9 8.1 0.1 0.2　Manufacturing 4,572 22,594 45.8 5.0 4.9 4.9 ▲ 0.1 0.0 3,530 29,323 63.8 8.1 8.2 8.3 0.1 0.1　Wholesale Trade 2,631 12,548 25.4 4.8 4.9 4.8 0.1 ▲ 0.1 1,232 10,927 23.8 8.4 8.7 8.9 0.3 0.2　Retail trade 1,257 4,084 8.3 3.2 3.1 3.2 ▲ 0.1 0.1 201 575 1.3 2.7 2.6 2.9 ▲ 0.1 0.3

Number of domesticsubsidiaries

Number of domestic subsidiaries ow ned per company

FY2017Y/Y change (subsidiaries)

Number ofcompanies thatow n domesticsubsidiaries

FY2015 FY2016

Number ofcompanies thatow n overseas

subsidiaries

Number of overseassubsidiaries

Number of overseas subsidiaries ow ned per company

FY2016 FY2017Y/Y change (subsidiaries)

FY2015