Fanuc Hit by China Slowdown; We Downgrade Our FVE to JPY 28,100
Wide-moat Fanuc posted weaker fiscal 2018 second-quarter (ended September) results featuring a 9.5% year-over-year decrease in revenue and 22.8% decrease in operating income. Management made mild reductions in its full-year guidance, with revenue guidance reduced by 2% to JPY 626 billion and operating profit guidance reduced by 5% to JPY 150.9 billion. The new guidance implies 19% and 51% reductions in second-half revenue and operating profit, respectively. Highlighting the potential impact of t...Fanuc is engaged in the development, manufacture and sale of CNC systems as well as application products based on its engineering. Co.'s principal products include Factory Automation (FA) products such as computer numeric control (CNC) systems and laser products; The Robot including collaborative robot, arc welding robot, palletizing robot, mini/small/medium/large size robot and paint robot; and the he Robo-machine such as robodrill(compact machining center), roboshot (electric injection molding machine), robocut (wire-cut electric discharge machine) and robonano (ultra precision machine).
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