Sanyo reports $976m loss
Sunday, 17 May 2009
TOKYO, May 16 (AFP): Japan's Sanyo Electric Co. Thursday reported a net loss of 976 million dollars for the past financial year due to falling sales and restructuring costs but said it expects to break even this year.
Sanyo -- which is being bought by its bigger rival Panasonic Corp. -- said net losses reached 93.23 billion yen in the 12 months to March, reversing the previous year's profit of 28.7 billion yen.
Sanyo -- which is being bought by its bigger rival Panasonic Corp. -- said net losses reached 93.23 billion yen in the 12 months to March, reversing the previous year's profit of 28.7 billion yen.