Prospects for Japan firms clouded by quake

TOKYO, May 18 (AFP): Some of Japan's biggest firms remain unable to forecast their prospects for the coming months due to the impact of March's massive earthquake, which is expected to plunge the economy into recession. Automakers such as Toyota, electronics giants such as Sharp and airline All Nippon Airways skipped annual forecasts citing uncertainty over the scale of disruption that will also be seen in Japan's first quarter GDP data Thursday. "While the earthquake occurred late in the quarter, the contraction in activity after the earthquake will likely be enough to bring down the growth rate in Q1 deep into negative territory," noted BNP Paribas' chief Japan economist Ryutaro Kono.