Bloomberg News

Fanuc Falls Most in Three Weeks After Earnings Miss Forecast

October 25, 2011

Oct. 25 (Bloomberg) -- Fanuc Corp., whose yellow robots help Nissan Motor Co. weld cars, fell the most in three weeks in Tokyo trading after reporting earnings that missed its forecast.

The company dropped 3 percent to 12,160 yen at the close of trading, the biggest decline since Oct. 3. The benchmark Nikkei 225 Stock Average slipped 0.9 percent.

Fanuc reported half-year earnings of 379.18 yen per share, compared with its forecast of 383.15 yen, according to a statement to the Tokyo Stock Exchange today. The Yamanashi-based company also delayed its earnings announcement for an hour because of a “procedural” issue.

The robot-maker forecast full-year net income of 150 billion yen ($2 billion) for the year ending March 31. That is an increase of 25 percent from last year.

--Editors: Neil Denslow, Michael Tighe

To contact the reporter on this story: Takahiko Hyuga in Tokyo at thyuga@bloomberg.net

To contact the editor responsible for this story: Neil Denslow at ndenslow@bloomberg.net


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