TV Asahi Corp. said Friday it has raised its group earnings forecast for the first half and full year of fiscal 2003 due to strong performance in its music publishing business.

In its earnings forecast, the broadcaster said it now expects a net profit of 1.1 billion yen for the April-September period, up from 300 million yen projected in May.

The estimate for pretax profit has been raised to 3 billion yen from 1.65 billion yen and the forecast for revenue has been lifted to 107 billion yen from 103.7 billion yen, it said.

The company said a contributing factor to its earnings was the strong showing of the band HY, which is promoted by an affiliate of TV Asahi. The band sold more than 1 million copies of its album.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.