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Weak China demand for automation sends Omron profit down 21%

Company cuts forecast for second time as trade war discourages investment

Omron displays its table tennis robot with artificial intelligence at the CES trade show in Las Vegas. (Photo by Tomoki Mera)
Omron displays its table tennis robot with artificial intelligence at the CES trade show in Las Vegas. (Photo by Tomoki Mera)

OSAKA -- Omron lowered its profit forecast for the second time this fiscal year as the trade war and slowing Chinese economy dampens demand for factory automation equipment.

The Japanese company said Wednesday that net profit for the year ending in March is now expected to shrink 21% to 50 billion yen ($459 million), down from the 58.5 billion yen projected in October, which itself was a downgrade from 64.5 billion yen in April.

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