Sansui Electric Co. said Wednesday it has revised downward its forecasts for the business year to Dec. 31 to show an 80 percent surge in pretax loss compared with its projections in February.
The audio equipment maker expects a pretax group loss of 900 million yen instead of February’s projected 500 million yen loss.
Sansui Electric attributed the rise mainly to a foreign exchange loss of 300 million yen in the first half of the business year.
It also expects a group net loss of 760 million yen in the whole business year, up from a 500 million yen loss it projected in February.
For the parent company only, it expects a pretax loss for the year of 870 million yen, up from a 500 million yen loss projected earlier.
The parent company, however, will see a net profit of 620 million yen instead of the earlier projected unconsolidated net loss of 500 million yen, Sansui said.
The unconsolidated net account was revised as the company expects 1.7 billion yen in extraordinary profit from reserves for losses in group company operations.
The revisions will not affect its projections of group sales of 250 million yen and unconsolidated sales of 250 million yen, the company said.
In the previous year, Sansui chalked up a group net loss of 1.33 billion yen on a pretax loss of 982 million yen and sales of 1.32 billion yen.
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