Panasonic predicts record $10 billion annual loss

Japanese electronics giant Panasonic has revised its annual net loss forecast to a record ¥780 billion ($10.2 billion) in response to a year that has seen the firm battle two massive natural disasters, as well as a slower economy and the strong yen eroding foreign earned revenue when repatriated to Japan.
The company was forced to halt operations in October at its three Thailand factories making home appliances and other products following the nation’s worst floods in 70 years. The magnitude 9.1 earthquake in Japan last March also disrupted the supply chain and impacted heavily on the firm.
In October, the world largest maker of plasma TV’s, had predicted loses of around ¥420 billion ($5.5 b... »read more

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