Hikari Tsushin Inc. said Monday it expects a consolidated net loss of 4.4 billion yen for the year to March 31, well up from an earlier projected loss of 400 million yen.
The subscription agent for data-communications services cut its group pretax profit forecast for the year to 3.3 billion yen from 4.5 billion yen on revenues of 120 billion yen, unchanged from its last projection in November.
Hikari Tsushin attributed the changes largely to appraisal losses on the securities it holds in venture units.
For the seven-month accounting term to March 2002, Hikari Tsushin reported a group net loss of 16.12 billion yen and a pretax loss of 1.52 billion yen on revenues of 71.06 billion yen.