WOWOW expecting to lose profit (Updated)

TOKYO – WOWOW, a major Japanese satellite entertainment channel, has announced that its year-on consolidated net profit will be down 39 percent to $19.8 million (2.1 billion yen) as compared with the previous fiscal year.

Executives at the broadcaster issued the guidance Sept 25 for their current fiscal year which ends in March 2009, represents a $3.78 million improvement over 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 by 45 percent to $28.3 million.  This is also $3.78 million better than the previous prediction.

WOWOW projects a 2 percent gain in total sales to $629 million.

WOWOW a respective Japanese Television Company runs boxing, anime series, anime movies, and other entertaiment. This is the first private satellite broadcasting and pay TV station in Japan. The Channel “Wow”, and the three W’s also stand for “World-Wide-Watching”. They are also known for viewing original anime series like Cowboy Bebop, Full Metal Panic! and TSR, Trinity Blood, Vandread, Kino’s Journey, and other famous anime this company has produced and broadcasted.

WOWOW also simulcasts some of its programming in High Definition on its HD feed.

[Source]

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