New projections for next year up $3.78 million
TOKYO — Japanese satellite channel Wowow has announced that its consolidated net profit will be down 39% to 2.1 billion yen ($19.8 million) compared with the previous fiscal year.This new projection for the year ending in March, 2009, is up $3.78 million on the initial profit forecast at the start of the period due to a weakening of the dollar against the yen as well as cuts in production costs. Operating profit is also forecast to decrease year-on-year by 45% to $28.3 million. This is $3.78 million better than the previous prediction. Wowow projects a 2% gain in total sales to $629 million.