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Mixi Raises Forecast as ‘Monster Strike’ Chief Becomes President

Feb. 13 (Bloomberg) -- Mixi Inc., a Japanese social network operator, raised its annual earnings forecast on demand for the “Monster Strike” game as it promoted the head of the studio to take over as President.

The company expects operating income of 200 million yen ($2 million) in the 12 months ending March 31, up from a previous forecast of a 1.6 billion yen loss, Tokyo-based Mixi said in a statement. Hiroki Morita will replace Yusuke Asakura as president, the company said.

Mixi has expanded beyond its Facebook Inc.-like social networking service into smartphone games and e-commerce, including Websites for dating and apartment-hunting. The stock has more than tripled in the past year amid surging downloads of “Monster Strike” and the “YYC” social app.

The company also narrowed its full-year net loss projection to 350 million yen from a 2.6 billion yen loss previously. The sales forecast was raised 44 percent to 11.5 billion yen, it said.

Asakura has been president since June, when he replaced founder Kenji Kasahara.

To contact the reporter on this story: Takashi Amano in Tokyo at tamano6@bloomberg.net

To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net

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