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Amid twin threats, Japan's electronic parts makers pin hopes on diversification

TOKYO -- Japan's electronic parts manufacturers are facing a double whammy of a strong yen and souring sales at Apple. Even so, their fiscal 2016 earnings projections through Friday are more optimistic than expected as the firms continue to cut the cord from the iPhone maker.

"Supplies to Chinese smartphone manufacturers are picking up significantly," Tetsuji Yamanishi, director and corporate officer at TDK, said Friday. That upbeat tone may seem counterintuitive considering how the company the same day reported a 5% year-on-year decline in April-June net profit to 12.4 billion yen ($120 million).

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