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Fast Retailing Drops After Profit Forecast Misses Estimates

Fast Retailing Co. fell in Tokyo trading after Asia’s largest clothing retailer forecast profit that missed analyst estimates and said discounts hurt domestic earnings.

The maker of Uniqlo casual apparel dropped 3.2 percent to 33,450 yen at the close of trading in Tokyo. Net income will probably be 92 billion yen ($935 million) for the year ending August 2014, the Yamaguchi, Japan-based company said yesterday in a statement. That’s lower than the 99.3 billion yen average of 19 analyst estimates compiled by Bloomberg.