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Companies

Fanuc says China business is back and lifts earnings forecast

But Hitachi Construction struggles as coronavirus threat looms

Fanuc, a major Japanese producer of factory robots, had been squeezed by dwindling capital expenditures in China.   © Reuters

TOKYO -- Japanese factory device maker Fanuc on Wednesday upgraded its full-year net profit forecast by around $70 million due to improved orders from China.

Fanuc now predicts it will earn a 65.9 billion yen ($603.8 million) profit for the year ending March, down 57% from the previous fiscal year. The bottom line had previously been downgraded twice to a level not seen in a decade.

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