Friday, November 26 2:30 PM SGT
Japan's Jafco Now Sees FY Group Net Pft Y7B
DJ Japan's Jafco Revised Group Estimate >J.JAF
GROUP New Forecast Prior
For Year To 3/00 Forecast
Sales 50,000 35,000
Pretax profit 14,500 11,500
Net profit 7,000 6,000
In mlns. of yen
-0- 26/11/99 07-14G
Cites Higher Capital Gains
TOKYO (Dow Jones)--Jafco Co. (J.JAF or 8595), a major Japanese venture capital company, Friday lifted its group earnings estimate for the year through March 2000, citing higher
Jafco said it now expects group net profit of Y7 billion for the year, up from Y6 billion previously forecast.
The company lifted its operating revenue outlook to Y50 billion from Y35 billion, while its pretax profit estimate was revised up to Y14.5 billion from Y11.5 billion.
The pioneer venture capital company said it was able to post higher-than-expected securities sales gains thanks to the recent growth of Japan's over-the-counter market. The company
also expects a favorable performance by U.S. information-related shares which it plans to sell in the second half.
In the previous fiscal year ended in March, Jafco posted a group net loss of Y8.24 billion on revenue of Y34.42 billion and pretax profit of Y5.42 billion.