Nomura cuts 07/08 Japan Inc profit view, lifts 08/09

TOKYO, Dec 10 (Reuters) - Nomura Securities on Monday cut its forecast for Japanese corporate earnings in the current financial year, which for most domestic companies ends in March 2008, but raised its outlook for the following year.

Japanese companies are likely to post a 10.2 percent rise in recurring profits in the current financial year, down from its previous estimate of an 12.1 percent increase, according to the Nomura survey of 400 of Japan's largest listed firms.

Recurring profit is before tax and excludes extraordinary items.

For the 2008/09 financial year, Nomura now expects a rise of 9.9 percent, up from its previous estimate for an 8.7 percent gain. (Reporting by Aiko Hayashi)