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In snow country along the northwest coast of Honshu, a small manufacturer of precision molds is feeling the pain of China’s economic slowdown.

Orders have slowed to a trickle at Nagumo Seisakusho Co., a supplier to big auto-parts makers such as Denso Corp. and Aisin Seiki Co. And the company might keep salaries flat or even reduce them in fiscal 2019.

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