Tokyo Gas Co. forecast a full-year loss Tuesday on increased import costs, reversing its previous profit outlook.
The loss will probably reach ¥7 billion for the year ending March 31, compared with the ¥50 billion net income it forecast earlier, the company said. It expects sales of ¥1.8 trillion compared with the ¥1.71 trillion it predicted April 25.
Net income for the quarter ended June 30 fell to ¥16.4 billion from ¥23.1 billion a year earlier, it said.
The revision comes as liquefied natural gas import costs rise in tandem with global crude oil prices, the company said.