TOKYO -- Fanuc's decline in orders amid an otherwise bright April-June quarter suggests Chinese buyers are pulling back on investment over fears of damage from a trade war with the U.S., setting up the Japanese robotics and automation company for a rough year.
Fanuc's net profit jumped 9.5% on the year to 44.7 billion yen ($403 million) for the first quarter of fiscal 2018, the company said Wednesday. Sales climbed 8.5% to 182.8 billion yen thanks to brisk shipments of factory automation equipment, including computer numerical control systems used to guide machine tools. A weaker-than-expected yen also contributed to earnings.
.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)