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.

Related topics: