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Equities

To break 'Apple jinx,' suppliers need to reduce dependency

Shares of LED backlight maker MinebeaMitsumi are especially vulnerable

An Apple iPhone X, center, is seen next to older models at an Apple store in New York on Nov. 3, 2017.   © Reuters

TOKYO -- Investors are carefully watching whether shares of Japanese electrical component maker MinebeaMitsumi will succumb to the "second-year jinx" that seems to plague Japan's Apple suppliers.

On Wednesday, the company upgraded its group net profit forecast for the current fiscal year ending in March by 5 billion yen to 62 billion yen ($567 million), up 51% from a year earlier. A QUICK survey of analysts yielded a more conservative average estimate of 60.7 billion yen.

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