Newspaper Has Lock on Prescience Covering Japan Earnings
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If you wanted to find out what Toyota Motor Corp., NTT Docomo Inc. and Canon Inc. earned last year before they reported results, the best guide wasn’t analyst or company predictions. It was the Nikkei newspaper.
The business daily printed full-year profit figures for Japan’s biggest car, phone and camera makers before they released financial statements, without saying where it got the information. It did the same thing for more than 40 other Nikkei 225 Stock Average firms, posting a record of accuracy that beat analysts’ estimates and the companies’ own forecasts.