Sega Raises Forecasts

Representatives from Sega have indicated that the company is raising its earnings and sales forecasts for the first half of the fiscal year. For the first half ended September 30 the company is predicting a group net profit of 5.7 billion yen ($52.0m), up from an initial forecast of just 200 million yen ($1.8m). In the same period in 2002 the company earned 1.01 billion yen ($9.2m). Sales forecasts for the first half have also been raised from 88 billion yen ($802.5m) to 94.2 billion yen ($856.4m). The actual figures will be reported next month. In the fiscal year through March 2004, the company predicts its net profit will climb to 8 billion yen ($72.9m) from an initial forecast of 7.5 billion yen ($68.4m).