Restructuring trading house Nissho Iwai Corp. is hoping to increase its annual group pretax profit to 100 billion yen in five years, more than a fivefold increase from the 18.2 billion yen it registered in fiscal 1999, company sources said Wednesday.
On an after-tax basis, it will be equivalent to an annual profit of roughly 50 billion yen, far greater than the 23 billion yen projected for the year through March 2001, which would be a record profit for the Osaka-based company.
The firm expects around 25 percent of the projected profit to come from gains on asset sales. The forecast also assumes it will become a competitive player in the information-technology sector, where it is planning to invest heavily, the sources said.