By Lena Lee
Feb. 5 (Bloomberg) -- Casio Computer Co. fell in Tokyo trading after the Japanese maker of Exilim cameras and G-Shock watches cut its earnings forecasts.
Casio dropped 2.8 percent to close at 670 yen on the Tokyo Stock Exchange. The benchmark Nikkei 225 Stock Average lost 1.1 percent.
Net income is projected to fall 88 percent to 1.5 billion yen ($17 million) in the year ending March 31, less than the company’s earlier forecast of 13.5 billion yen, Tokyo-based Casio said yesterday after the market closed. A decline in demand and anticipated “greater setbacks” in the global economy led the company to cut its outlook, Casio said.
To contact the reporter on this story: Lena Lee in Tokyo at llee42@bloomberg.net.
Last Updated: February 5, 2009 02:30 EST
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