1. The Bureau of Industrial Costs & Prices ( BICP ) recommended in 1977 a minimum return on capital .

2. Empirically, wages and rates of return on capital do not equalize in even rather long periods of time.

3. JAPAN , LIKE THE COMMUNITY , EXPERIENCED AN UNFAVOURABLE DIVERGENCE BETWEEN THE DEVELOPMENT OF REAL LABOUR COSTS AND THAT OF THE RATE OF RETURN ON CAPITAL .

4. Reasonable profit should be determined as a rate of return on capital that takes into account the degree of risk, or absence of risk, incurred.

5. The Company is forecast to report profit from core activity, generate positive cash flows from operations and positive return on capital employed (‘ROCE’) from 2014 onwards.

6. AN IMPORTANT FACTOR IN ENCOURAGING THIS CAPITAL DEEPENING HAS UNDOUBTEDLY BEEN THE PERSISTENT RISE IN REAL LABOUR COSTS IN RELATION TO THE RATE OF RETURN ON CAPITAL .