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Panasonic warned it would suffer a Y780bn ($10.2bn) full-year loss, the largest in its 94-year history, becoming the latest Japanese electronics group to succumb to the effects of a strong yen, supply problems in flood-hit Thailand and escalating restructuring costs.
The new projection for the financial year ending in March was nearly double Panasonic’s previous loss forecast of Y420bn, issued in November. Until then, the company had been expecting to end the year with a small profit.
