Sakai Heavy Industries (TYO:6358) raised its attributable profit forecast for the fiscal year ending March 31 to 1.50 billion yen from 900 million yen previously, citing an expected gain on the sale of investment securities.

The construction machinery maker's basic earnings per share are now expected to be 175.28 yen, up from the earlier projection of 105.61 yen, according to its Tokyo bourse filing on Thursday.

However, the company lowered its net sales forecast to 26.6 billion yen, from 28.0 billion yen, due to weaker demand in the global construction machinery market.

Despite the profit increase, the annual dividend forecast remains unchanged at 105 yen per share, consistent with the company's dividend policy based on return on equity.