COVID weighs on Asia's largest satellite operator Sky Perfect Jsat

Japanese company expects tough year ahead despite quarterly profit jump

SkyPerfect Jsat operates satellites for telecom carriers and satellite broadcasters (photo courtesy of Boeing)

MITSURU OBE, Nikkei staff writer

September 2, 2020 21:35 JST

TOKYO -- Japanese satellite broadcaster Sky Perfect Jsat warned on Wednesday that the coronavirus would weigh on its earnings for the rest of the year despite reporting a 51% rise in April-June operating profit.

The stellar first-quarter results are due mainly to costs being pushed back towards the later part of the fiscal year, while revenue is expected to come under greater pressure as the coronavirus-induced slump becomes prolonged, the Tokyo-based company warned.