Yamaha Corp., a major maker of musical instruments and special semiconductor chips, said Thursday it has revised upward its group profit forecast for the 2002 business year, citing personnel-cost cuts and brisk sales of mobile phone chips.

Yamaha has increased its net profit projection to 17 billion yen from the 14 billion yen forecast May 17. Projected sales remain unchanged at 530 billion yen.

A Yamaha spokesman said the firm "received a boost from brisk sales of sound-source semiconductor chips for use in mobile phones."