Justsystem Corp., a major software firm based in Tokushima Prefecture, lowered its earnings projection Friday for fiscal 1998, citing declining share in the pre-installed software market and falling unit prices amid the economic slump.
The company, known for its Ichitaro Japanese word processing software, lowered its sales projection from 19 billion yen to 16.25 billion yen. Pretax losses are projected to grow from a previous estimate of 1.87 billion yen to 4.7 billion yen.
Justsystem had expected to ship 1.3 million units of its Ichitaro series during fiscal 1998, but this figure was revised downward to 1.1 million as its share dwindled in competition Microsoft's Word series.
On a consolidated basis, the company's sales will decrease from 19 billion yen to 16.3 billion yen, and pretax losses will grow from 2.2 billion yen to 5 billion yen compared with the earlier projection. During fiscal 1997, Justsystem posted pretax losses of 5.19 billion yen and sales of 21.77 billion yen.