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partly because the overall household purchasing power was not sufficiently strong and household debt remained elevated. Private investment picked up in line with the improved economic outlook, and with
household debt remained elevated, economic expansion had yet to benefit household income in a broad-based manner, and the low level of some agricultural price resulting in a gradual improvement. Private
(13.1) 160.6 (15.9) 613.5 552.2 11.1 Profits before bad debts and doubtful accounts, and income tax expenses 946.6 1,004.4 (5.8) 1,020.2 (7.2) 4,291.9 3,772.8 13.8 Profits before income tax expenses 886.6
operating expenses 731.4 686.4 45.0 6.6 Bad debts, doubtful accounts and impairment loss 100.0 330.0 (230.0) (69.7) Income tax expenses 138.6 154.8 (16.2) (10.5) Profits before bad debts and doubtful accounts