Panasonic Reports Big Loss But Forecasts Profit

TOKYO (AP) — Japanese consumer electronics giant Panasonic Corp. on Friday reported a near-record net loss of 754 billion yen ($7.5 billion) for the fiscal year through March due to restructuring costs and slumping sales, but predicted a return to the black this year as it prunes unprofitable businesses. The Osaka-based company, which makes Viera […]

Japan’s TV Giants Hawk $3 Billion Of Assets

Japan’s troubled TV makers, Panasonic Corp., Sony Corp. and Sharp Corp., are  selling buildings and businesses in a giant “garage sale” that could raise a combined $3 billion as the firms look to trim fixed costs and improve cashflow at a time of intense competition, particularly from South Korean rivals such as Samsung Electronics Co.


Panasonic Returns To Profit On Cost Cutting

TOKYO (AP) — Panasonic Corp. said Tuesday it returned to the black in the April-June quarter, logging a net profit of 12.8 billion ($163 million) mainly on lower costs after cutting more than 38,000 jobs over the last year. The consumer electronics giant had a net loss of 30.4 billion yen in the same quarter […]