JAPAN CORPORATE PROFITS IN LAST 1986 QUARTER UP

  Current profits of Japan's major firms in
  the October-December quarter rose four pct from a year earlier
  to 5,654 billion yen against a 2.6 pct year-on-year rise in the
  preceding quarter, the Finance Ministry said.
      The improved earnings resulted mainly from a 22.5 pct
  profit increase in non-manufacturing industries, supported by
  an 88.7 pct rise for construction firms and a 138 pct gain in
  real estate, according to a ministry survey.
      Total sales of the 15,308 firms with capital of 10 mln yen
  or more which responded to the poll, fell one pct to 217,217
  billion yen against a 1.2 pct fall the previous quarter.
      Current profits of manufacturing industries in the fourth
  quarter dropped 13.7 pct to 2,394 billion yen against a 22.1
  pct fall in the preceding quarter, the ministry said.
      Plant and equipment investments of all firms polled fell
  3.9 pct to 8,004 billion yen, compared with a 1.4 percent fall
  the previoius quarter.
      Ministry officials said the survey showed that the Japanese
  economy is in a delicate stage in which it is hard to tell if
  economic growth has stopped deteriorating or if the economy is
  heading for a recovery.
  

