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News Breaks
January 24, 2013
05:48 EDTNJNidec lowers FY13 revenue to Y720B from Y690B
Since the middle of Q3 ended December 31, 2012, the company has experienced a drastic decline in demand for its core products, including those used in personal computers, digital still cameras, and LCD panel manufacturing equipment. Under the assumption that the weak demand environment would continue to affect the company's businesses through Q4, the company initiated a structural reform to bolster its earnings strength and incurred the resulting expenses in Q3. The company is prepared to incur additional streamlining costs and associated adjustment expenses in Q4 and now expects its sales and operating income for FY13 to significantly underperform its previous forecasts announced in October 2012.
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