• Kyodo

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Sportswear-maker Descente Ltd. on Wednesday sharply slashed its net profit outlook for fiscal 2019, hit by a widespread boycott of Japanese products in its mainstay South Korean market.

The seller of Umbro, Le Coq Sportif and Munsingwear brands said it expects group net profit to plummet 82.3 percent to ¥700 million ($6.4 million) in the year to March 2020, down from its previous forecast of ¥5.30 billion.

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