OSAKA -- Sanyo Electric Co. said Friday it has revised downward its group earnings forecast for the first half of the business year, projecting sales of 1.04 trillion yen, down 1.9 percent from previous expectations.

Group net profit is likely to fall 56.4 percent from previous projections to 8.5 billion yen, the company said.

Compared with the same period last year, the company's net group sales will be down 1.8 percent, while its profit will fall 58 percent.