Japanese conglomerate Kyocera has warned that its first half and full year profits are likely to be down.
The company, which is the world?s largest manufacturer of ceramic packages for integrated circuits, blamed a fall in sales of these devices combined with the strong yen.
Kyocera had forecast sales of Y270 billion in the first half of the year but has revised that figure down to Y250 billion. Profits for this period are now expected to be 27 per cent below its original figure of Y49 billion.
For the full year, Kyocera now predicts that sales will amount to Y245 billion with recurring profits of Y96.9 billion.
If those forecasts are correct, that will show a slump from the previous year.
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