Japan's Fanuc cuts outlook again, cites trade friction

YASKAWA Electric

31/01/2019 06:46

TOKYO, Jan 31 (Reuters) - Japanese robot maker Fanuc Corp
 6954.T  on Thursday lowered its annual earnings outlook for the
second time in just three months, the latest tech manufacturer
to issue a profit warning due to China-U.S. trade frictions.
    Fanuc now expects an operating profit of 147.9 billion yen
($1.36 billion) for the year ending March, versus a previous
forecast of 150.9 billion yen.
    Demand for factory automation equipment plunged in China and
Taiwan due to the trade frictions between the United States and
China, the company said.
    Fanuc's weaker outlook follows profit warnings from other
automation equipment makers, such as robot maker Yaskawa
Electric Corp  6506.T  and precision motor maker Nidec Corp
 6594.T .  urn:newsml:reuters.com:*:nL3N1Z9315 urn:newsml:reuters.com:*:nL3N1ZH28L
 ($1 = 108.6900 yen)

 (Reporting by Makiko Yamazaki; Editing by Himani Sarkar)
 ((Makiko.Yamazaki@thomsonreuters.com; 81-3-6441-1039;))