Panasonic Forecasts $10 Billion Loss
Panasonic Corp. said Friday that it now expects to post a loss of more than $10 billion for the fiscal year ending March 31, and cited a write-down related to its acquisition of a rival and hefty restructuring costs in its loss-making television business.
If the company’s revised net-loss forecast of ¥780 billion — its previous projection, in October, was ¥420 billion — proves accurate, it would be the second-largest ever for a Japanese manufacturing company. Hitachi Ltd. lost ¥787.34 billion in the fiscal year ended March 2009, as the financial crisis struck.
