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Tsutsumi Jewelry Forecasts Profit Growth for FY09By Rajesh Kumar, Section News
Integrated jeweler Tsutsumi Jewelry Co. of Japan forecasts first half revenue could increase 0.8 percent to JPY14.15 billion ($129 million.) The company expects profits to increase 8.7 percent to JPY1.25 billion ($11.4 million.)
For fiscal year 2009, ending in March, Tsutsumi forecasts revenue to drop 5.4 percent to JPY30 billion ($273 million,) and profits to increase 22 percent to JPY2.84 billion ($25.8 million.)
Tsutsumi is engaged in the manufacture of and wholesale distribution of retail jewelry. It also operates the Satsuma Jewelry chain in Japan.
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