General contractor Tobishima Corp. said Friday it has revised downward its group earnings forecast for the first half and the full year of fiscal 2001, due largely to deteriorating profit margins in private-sector construction jobs.
For the fiscal first half through Sept. 30, the company expects a net loss of 7.3 billion yen, compared with the previous loss estimate in May of 2.5 billion yen.
Its pretax loss is expected to grow to 7.9 billion yen from the previously projected 2 billion yen loss, with revenues revised up to 142.2 billion yen from 122 billion yen.
For the full year through March 31, Tobishima forecasts a net profit of 20 million yen, revised down from the earlier estimate of a 100 million yen profit, and a pretax profit of 200 million yen, down from 5.8 billion yen, on revenues of 326 billion yen, up from 315 billion yen.
The company also announced a new five-year business plan through 2005, which aims to boost profitability and ensure an operating profit of over 10 billion yen.