Fast Retailing Plunges as Profit Forecast Cut to 5-Year Low

  • Stronger yen, unexpectedly warm winter weather hurt earnings
  • Shares take biggest plunge since Japan's March 2011 earthquake

Fast Retailing Co. fell the most in five years in Tokyo trading, wiping about $3.8 billion off the company’s market value, after cutting its profit forecast by a third on a stronger yen and weak demand for the casual clothing maker’s down coats and thermal underwear.

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