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Japanese Economy Minister Nishimura warned on Tuesday that corporate profits and factory production could likely take a hit from the China coronavirus outbreak.

Key Quotes:

There are concerns over the impact on the global economy from the spread of infection in China, transportation disruptions, cancellation of group tours from China and an extension in the Lunar Holiday.

If the situation takes longer to subside, we’re concerned it could hurt Japanese exports, output and corporate profits via the impact on Chinese consumption and production.