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Adaptable Japanese companies find favor with investors

Shifting focus helps put Minebea Mitsumi and Daiwa House among this year's big gainers

Minebea Mitsumi has lifted its share of profit earned from smartphone components.

TOKYO -- Japanese companies showing success finding new sources of growth while cutting back where they lag have been rewarded by stock investors this year.

Best known for ball bearings, Minebea Mitsumi has seen sharp growth in its electronic devices and parts business, which includes liquid crystal display components for smartphones. The segment generated 18.2 billion yen ($160 million) in operating profit for the April-September half, not far from the 21.2 billion yen produced by the company's core machined components segment.

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