Japanese electronics maker Sharp cut its outlook for the full year, citing trade frictions from the United States and China and declining demand from a major unidentified customer.
Sharp, a supplier to Apple Inc, said it now expects an operating profit of 107 billion yen ($ 979.1 million) for the full year through March, less than its previous forecast of 112 billion yen.
The company also lowered its annual sales forecast to 2.50 trillion yen from 2.69 trillion yen previously expected.
Sharp did not name Apple, but said a major customer had adjusted inventory. He also cited trade friction between the United States and China.
Last year, Sharp raised its full-year outlook amid a time shift under the ownership of Taiwanese contract manufacturer Foxconn, officially known as Hon Hai Precision Industry Co Ltd.
Other Japanese manufacturers, such as precision motor maker Nidec Corp, have issued similar warnings. Camera and printer maker Canon Inc said Wednesday that it expected a 5.2 percent drop in annual operating profit.
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