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Non-Tech : MAT - Mattel - toysRthem

MAT 20.97

-0.8%

3:59 PM EST

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To: John Finley who wrote (171)	10/1/1999 1:45:00 AM
From: miklosh	Read Replies (1) of 706

biz.yahoo.com Thursday September 30, 11:13 pm Eastern Time Bandai raises H1 parent prft forecast to Y2.4 bln TOKYO, Oct 1 (Reuters) - Japanese toy maker Bandai Co Ltd said on Friday it had revised its parent current profit forecast for the first half to September 30 to 2.4 billion yen from an earlier forecast of 1.4 billion yen, thanks mainly to better-than-expected sales. It also revised its parent current profit forecast for 1999/2000 to one billion yen from an earlier forecast of 700 million yen. Bandai said sales of its toys and goods based on ''Digital Monster'' series had been robust. It concurrently announced it would issue 2.44 million new shares worth 3.66 billion yen to Mattel Europa BV, a unit of U.S. toymaker Mattel Inc (NYSE:MAT - news) on October 26 as part of a tie-up deal announced in July. Under the deal, Bandai, Japan's largest toy maker, would market and sell Mattel products such as Barbie dolls and toy cars in Japan starting in October, while Mattel would begin selling Bandai products in Latin American countries from October. Bandai's shares ended Friday's morning session at 2,900 yen, up 150 yen, or 5.45 percent from Thursday.

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