Panasonic Corp. (PC: Quote) posted fiscal 2012 net loss attributable to Panasonic of a hefty 772.17 billion yen versus a profit of 74.02 billion yen last year. Basic net loss attributable to Panasonic per share was 333.96 yen versus profit per share of 35.75 yen in the previous year.
In fiscal 2012, business conditions deteriorated in Japan and overseas due to multiple factors, such as the concern of the shortages of the electric supply caused by the Great East Japan Earthquake, the disruption of supply chains affected by the flooding in Thailand, the economic turmoil triggered by the European financial crisis, and the historically high yen, the company noted.
Net sales declined to 7.85 trillion yen from 8.69 trillion yen a year ago.
Moving ahead to fiscal 2013, the company expects a turnaround. It expects net income attributable to Panasonic of 50.0 billion yen. Sales for the year is projected to be 8.1 trillion yen, up 3 percent from fiscal 2012 level.
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by RTT Staff Writer
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