UPDATE 1-Teijin's FY oper profit likely to top estimates -Nikkei

March 24 (Reuters) - Synthetic textile maker Teijin Ltd (3401.T) is likely to post a group operating profit of around 18 billion yen ($199.6 million) for the year ending March 31, almost unchanged from a year ago, and beating an earlier prediction of 13 billion yen, the Nikkei business daily said.

The company's yearly sales are expected to dip about 20 percent to about 770 billion yen, beating its forecast by about 10 billion yen, the Nikkei said.

The newspaper added that amid growing demand for cars, electronic appliances and other final products in Asia, sales of highly functional aramid fibers and polycarbonate resins are on the rise, while demand for films used in flat-panel displays remain brisk.

At the pharmaceuticals business, treatments for osteoporosis and gout are likely pushing the division's operating profit to 24.5 billion yen, mostly level with last fiscal year's record high of 24.8 billion yen.

The pharmaceuticals division is helping offset the slow demand for synthetic fibers, the daily said.

The Nikkei said Teijin had earlier expected to cut costs by nearly 30 billion yen, but would probably beat the figure by a few billion yen.

The company has primarily controlled expenses at its unprofitable polyester fibers operations and also the restructuring at its loss-making business for commodity-grade products is seen to come to an end this fiscal year, the newspaper said.

Despite bracing for a net loss of 34 billion yen this fiscal year, shrinking extraordinary losses and other factors are likely to help Teijin in fiscal 2010. ($1=90.17 Yen) (Reporting by Koustav Samanta in Bangalore; Editing by Maju Samuel)