Koito Manufacturing Co (JP:7276) has released an update.
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Koito Manufacturing Co., Ltd. has revised its business results forecast for fiscal 2024, anticipating a decrease in both consolidated and non-consolidated net sales and profits due to continued production challenges and a tough business environment in the automotive industry. The revisions reflect lowered expectations in global automobile production volumes and the impact of production suspensions, high interest rates in Asia, and weaker performance of Japanese vehicles in China. The company will provide updates on any significant changes in demand trends or other factors impacting its performance.
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