Meat company Itoham Foods has reportedly increased its projected net loss for the financial year due to intensified competition and a harsher than expected drop in demand.

Net losses are now expected to fall by JPY8bn (US$67.95bn), to JPY8.9bn for the year ending 31 March 2006, reported Japanese Company News Bites. Revenue projections have decreased by 3.8% to JPY510bn.