Japan's JSR slashes profit forecast on chip recovery weakness

JSR

06/11/2023 06:35

TOKYO, Nov 6 (Reuters) - Japanese chip materials maker
JSR Corp  4185.T  on Monday slashed its operating profit
forecast for the current financial year by 62%, citing weak
recovery in demand for semiconductors and a slowdown in the
biotech market. 
    JSR, which has agreed to be bought by a government-backed
fund, sees profit of 16 billion yen ($107 million) in the year
ending on March 31, 2024, an 84% fall compared to the same
period a year earlier. 
    
    ($1 = 149.5200 yen)

 (Reporting by Sam Nussey)
 ((sam.nussey@tr.com;))