Panasonic warns of $10bn annual loss

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email to buy additional rights.

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.

Posted in Investment