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Namco Trims Profit Estimate For The Year

Responding to concerns over slower US sales since the September 11th terrorist attack, Namco has cut its group net profit estimate for the current year.
The group net profit estimate for the year (ending March 31, 2002) was sliced to 1.9 billion yen ($15.8 million) from 2.6 billion yen, but the company raised its first-half earnings estimate after healthy North American sales. For the six months of this fiscal year (ending September), Namco now expects group net profit of 950 million yen -- way up from its previous estimate of a 500 million yen net loss. For the full fiscal year, Namco lowered its sales forecast to 151 billion yen -- down 2.6%.

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