Japan’s Panasonic projects wider loss for current fiscal
February 3rd, 2012 - 3:38 pm ICT by IANS ( Leave a comment )Tokyo, Feb 3 (IANS) Japan’s Panasonic said in its financial results Friday that it expected to see its worst-ever net loss of 780 billion yen (about $10.23 billion) for the current fiscal year (from April 2011 to March 2012), a deterioration from the 420 billion yen forecast earlier.
The leading electronic and electric products manufacturer recorded a net loss of 333.82 billion yen for the nine months to December, compared with a 114.70 billion yen profit in the corresponding period a year earlier, reported Xinhua.
The company, meanwhile, revised its annual sales forecast from 8.3 trillion yen downward to 8 trillion, because of the significant sales declines in mainly digital products.
The manufacturer also blamed the global economic slowdown and the instability in the financial markets due to the European debt crisis, and the massive flooding in Thailand last year.
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- Japan's central bank holds key rate steady - Dec 21, 2011
- Sony forecasts wider loss for fiscal 2011 - Feb 02, 2012
- Japan's exports fall in November - Dec 21, 2011
- Suzuki profits up for full year - May 10, 2010
- Japan posts first annual trade deficit in 31 years in 2011 - Jan 25, 2012
- Honda's net profit plunges 95.6 percent - Jul 29, 2009
- Sony announces $3.1 billion annual loss - May 27, 2011
- Japan's exports fell in October - Nov 21, 2011
- Toyota predicts return to black this year despite recalls - Feb 04, 2010
- Honda's operating profit falls 56 percent - Oct 27, 2009
- Panasonic incurs first annual loss in six years - May 15, 2009
- Honda Japan's nine-month net profit plummets 71 percent - Jan 31, 2012
- Sony incurs first net loss in 14 years - May 14, 2009
- Samsung Electronics' operating profit grows 13 percent in Q3 - Oct 28, 2011
Tags: current fiscal year, debt crisis, deterioration, financial markets, flooding in thailand, global economic slowdown, japan, massive flooding, nine months, panasonic, products manufacturer, sales declines, significant sales, tokyo, trillion, wider loss, xinhua, yen
