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Kyocera cuts outlook on weak mobile parts demand

OSAKA -- Kyocera on Thursday lowered its consolidated net profit forecast for the year ending March 2016, expecting sluggish demand for smartphone parts and solar cells.

     The Japanese electronic parts maker now sees group profit at 85 billion yen ($698 million), down 27% on the year and a reversal from the previously projected 4% increase to 120 billion yen. The figure would mark the first profit decline in three fiscal years.

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