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Japan-Update

Hirose Electric's profit seen rising 10% in fiscal 2017

Sales of connectors for smartphones to underpin earnings

TOKYO -- Hirose Electric is expected to report higher operating profit for the year ending March 2018 as worldwide growth in the smartphone market supports sales of its mainstay electrical connectors.

Profit will likely reach just shy of 30 billion yen ($267 million) in fiscal 2017, or 10% higher than estimates for the current year ending Friday. The Tokyo-based company intends to make up for depreciation charges arising from construction of new testing centers by capitalizing on the weak yen and improving production efficiency.

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