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Panasonic forecasts record £6.3bn loss
Japanese electronics company Panasonic has forecast a record net loss of ¥780 billion (£6.3bn) for the financial year to March amid falling sales of digital products and production disruptions from flooding in Thailand.
That is nearly twice the annual net loss of ¥420bn it had projected in October. It is also more than its past record net loss of ¥427.7bn logged for the year to March 2002, when the company was still Matsushita Electric Industrial.
Panasonic and other big Japanese exporters are being hit by the strong yen.
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