News Articles

Thursday, November 1, 2012

Panasonic and Sharp both forecast annual losses

Panasonic Corporation has reported quarterly and half-year results, with sales down and losses growing despite an increase in operating profit.

Consolidated group sales for the second quarter decreased by 12% year-on-year to 1,823.7 billion yen (£14.1 billion) and the net loss was 698 billion yen compared with a 105.8 billion yen loss in the same quarter a year ago.

The company has now forecast a net loss of 765 billion yen for the financial year after admitting that restructuring costs were considerably higher than previously expected. Panasonic also announced that it’ll be merging some of its business units.

Meanwhile, Sharp Corporation revealed half-year net sales down 16% to 1,104.2 billion yen (£8.5 billion) and a net loss of 387,584 million yen for the six-month period. A net loss of 450 billion yen for the financial year is expected.

It said Sharp was currently “in circumstances in which material doubt about its assumed going concern is found” and planned further restructuring, “aiming to be a life style creating company”.

Print
Author: The Fonecast
0 Comments
Rate this article:
No rating

Categories: Handsets and manufacturers, NewsNumber of views: 4734

Tags: japan Sharp panasonic

Leave a comment

This form collects your name, email, IP address and content so that we can keep track of the comments placed on the website. For more info check our Privacy Policy and Terms Of Use where you will get more info on where, how and why we store your data.
Add comment

Follow thefonecast.com

Twitter @TheFonecast RSS podcast feed
Find us on Facebook Subscribe free via iTunes

Archive Calendar

«November 2022»
MonTueWedThuFriSatSun
31123456
78910111213
14151617181920
21222324252627
2829301234
567891011

Archive

Terms Of Use | Privacy Statement