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June 24, 2017

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First-half loss forecast revised by NEC to profit of US$100 million

TOKYO -- Japanese information technology firm NEC said Friday it has revised its half year forecast from a loss to a healthy net profit, with reports saying demand for iPhones was helping the company.

For the first six months to September, NEC now predicts a net profit of 8 billion yen (US$100 million), compared with its earlier forecast of a net loss of 24 billion yen. It expects an operating profit of 47 billion yen on sales of 1.45 trillion yen, against its previous forecast of 1 billion yen profit on sales of 1.40 trillion yen.

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