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October 21, 1997updated 03 Sep 2016 12:34pm

CASIO PREDICTS RECORD PROFITS ON DOUBLED SALES

By CBR Staff Writer

Casio Computer Co expects its pretax profit will just about double year-over-year to 20bn yen ($165m) for the year through March 1998, surpassing an earlier projection of 14bn yen, according to a Nihon Keizai Shimbun report. The bullish forecast is being attributed to strong sales of digital watches in Japan and abroad and to improving profitability of its LCD division. If projected sales are achieved, the company will better the record profit of 19.1bn yen marked in fiscal 1991. Sales are expected to rise 10% to 380bn yen ($3.14bn). For the six months ended September, estimated pretax profit jumped 140% from the same period a year earlier to some 10bn yen ($82.5m). An improved pretax profit-to-total sales ratio was cited as the main reason for the increase. Interim sales are expected to have grown 13% to 190bn yen ($1.57bn) on rising shipments of digital watches and personal handy-phone systems (PHS).

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