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Business trends

China woes and tax hike weigh on Japan Inc.'s fiscal 2019 earnings

More companies cut outlooks than lift them in the October-December quarter

More than half of the 122 Japanese companies that revised their earnings outlooks in the October to December quarter lowered their full-year forecasts. (Photo by Kento Awashima)

TOKYO -- Corporate earnings have been slow to recover in Japan, with half the companies that revised their earnings outlooks for the year through March downgrading them.

In addition to the ripple effects of a slowdown in China on Japan's automakers and other manufacturers, service sectors such as airlines and retailers also ran out of steam due to unstable weather, the consumption tax hike and, more recently, the spread of the coronavirus in China and elsewhere.

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