Fanuc posts 42% profit drop on China machinery orders plunge

TOKYO -- Fanuc's operating profit fell 42% on the year for the three months ended Dec. 31, with the Japanese company blaming a sharp decline in Chinese orders amid the Sino-American trade war.

Profit came to 35.7 billion yen ($328 million) on sales of 151.1 billion yen, down 20%, in results released Thursday.