..check out matsushita(panasonic) :

Panasonic Forecasts Second Annual Loss, Cuts Dividend (Update2)

By Hiroshi Suzuki

May 15 (Bloomberg) -- Panasonic Corp., the world’s largest maker of plasma televisions, forecast a second annual loss as the global slump drives down demand for consumer electronics ranging from flat-screen TVs to digital cameras.

The net loss will be 195 billion yen ($2.04 billion) in the 12 months ending March 31, from a 379 billion yen deficit a year earlier, Osaka-based Panasonic said today. That compares with the 110 billion yen median loss estimate in a Bloomberg News survey of nine analysts.

The company slashed its full-year dividend by two-thirds and forecast its lowest annual revenue in 14 years as Panasonic, Sony Corp. and Samsung Electronics Co. cut prices of TVs, cameras and audio equipment to cope with the global recession. President Fumio Ohtsubo is slashing 15,000 jobs and shutting factories to save 135 billion yen this year.

“Panasonic really has to get its restructuring process done in the first fiscal half,” said Seiichiro Iwamoto, who oversees about $1 billion at Mizuho Asset Management Co. “I really want to see it start making profits in the latter half.”

Panasonic rose 4.8 percent to close at 1,455 yen on the Tokyo Stock Exchange before the earnings announcement. The shares have risen 31 percent this year, or more than six times the benchmark Nikkei 225 Stock Average’s advance.

Falling Sales

Sales at Panasonic, which makes products ranging from flat- screen TVs to toilets, will probably fall 9.9 percent to 7 trillion yen, the company said. Panasonic plans to cut the full- year dividend payment to 10 yen a share from 30 yen a year earlier, it said.

Operating profit, or revenue minus the cost of goods sold and administrative expenses, may rise 2.9 percent to 75 billion yen, it said. That beat the median estimate for a loss of 34 billion yen.

Profit at the main consumer-electronics division will probably increase to 16 billion yen this year from 3.2 billion yen as revenue falls 10 percent to 3.37 trillion yen, Panasonic said in the statement. That compares with the 34 billion yen median loss estimate in the survey.

Sony, Panasonic’s nearest rival in terms of global consumer-electronics sales, yesterday forecast its first back- to-back annual losses since the Tokyo-based company’s listing in 1958. The maker of Bravia TVs and PlayStation game players is eliminating 16,000 jobs and closing plants to save 250 billion yen this fiscal year.

Appliances Profit

Profit at Panasonic’s appliances division, which makes hair dryers and facial steamers, will probably rise 12 percent to 55 billion yen this year, compared with the 45 billion yen median analyst estimate.

The company started selling home appliances including refrigerators and washing machines in Europe in March to expand the sales to 17 countries in the region this fiscal year.

The electronic-component division’s profit will probably increase to 25 billion yen from 7.1 billion yen in the previous 12-month period, the company said. The median analyst estimate called for a 24.6 billion yen loss at the unit.

Profit at the division that builds houses and makes light bulbs will probably fall 15 percent to 34 billion yen. That compares with the 29 billion yen median estimate.

For the 12 months ended March 31, Panasonic reported its largest net loss in seven years. Revenue tumbled 14 percent, the biggest annual decline based on data compiled by Bloomberg stretching back to 1993.

Makes sony's loss seem almost negligible.. considering they had the lossy playstation division. Goes to show SONY is still doing quite strongly in the "others" electronics division/ movie divs..atleast compared to other electronics firms

Bam another 15k people lose their job.

Everybody here who spent their money on things "more important" than plasma TVs... you are responsible for 15,000 people losing their jobs. I hope you're happy with your food and toothpaste. And houses.

(Also, right now my butt is making more money than Panasonic and Sony COMBINED.)

Can I buy some stock on your behind?

Damn.... the larger companies are really taking a beating...

I really don't wanna see what could happen if things don't shape up within 1.5 more years...

All are losing money badly now, fanboys are just to stupid to know that.

Things are already getting better, slightly and slowly though.

It like this all over Japan, very few large companies are doing well. Personally I think the loses would be less if they got out of the plasma business altogether. LCDs are the current trend and then OLED TVs are to follow. Panasonic better jump on or these losses are going to continue.

Wasn't it reported that Hitachi had 8 billion in losses for the last fiscal year??
It sure puts things in perspective.

edit-

Here is a link-

http://www.google.com/hostednews/afp/article/ALeqM5iu2eA-D_8SHm7nfzhnz9gmIawChA

Jan 29, 2009

TOKYO (AFP) — Hitachi said Friday it expects to lose almost eight billion dollars this year while NEC sank deeper into the red as Japan Inc. buckles under the strain of the economic crisis.

Hitachi said it would slash up to 7,000 jobs as it braces to post a 700 billion yen (7.83 billion dollars) loss in the current financial year to March.

Electronics giant NEC Corp. said it expects a net loss of 290 billion yen in the year to March as recessions in major economies from Japan to Europe and the United States hammer demand.

Japan is in the midst of its first recession in seven years as the global slowdown saps demand overseas for cars, computers, cameras and other key exports.

Japanese companies have also been hit hard by a strong yen, which recently soared to a 13-year high against the dollar.

There was more bad news from the car industry as Honda Motor Co. reported that its net profit dived 89 percent to 20.24 billion yen (226 million dollars) in the fiscal third quarter as car sales slumped.

The company cut its net profit forecast to 80 billion yen for the year to March 2009, down from an earlier forecast of 185 billion yen. That would mark a decline of 86.7 percent from the previous year.

Honda, Japan's second largest automaker, reported a 5.1 percent drop in automobile sales in the quarter to 940,000 units.

All Nippon Airways said it expects its first annual loss in six years as travel to North America and Europe declines due to the global economic crisis.

Japan's second-largest airline said it now forecasts a loss of nine billion yen for the financial year to March 31. It previously expected a profit of 17 billion.

Unlike its rival Japan Airlines, ANA has long been used to healthy earnings and in the previous year posted a 64.1 billion yen net profit.

"We saw a severe drop in international passengers on routes to Europe and North America, in addition to an already depressed China leisure market," said Tomohiro Hidema, ANA's executive vice president for finance.

There was also fresh misery in the banking sector as Mizuho Financial Group posted a net loss of 50.55 billion yen (565 million dollars) in the nine months to December due to the global economic crisis.

Mizuho has been badly hit by financial market turmoil and losses on toxic mortgage-backed securities. A year earlier it had made a net profit of 393.03 billion yen.

The group downgraded its outlook but still hopes to end the current financial year to March in the black. It expects a net profit of 100 billion yen, down from an earlier projection of 250 billion yen.

"The dislocation of the global financial markets stemming from US subprime issues has worsened with the failure of Lehman Brothers in September 2008 and has caused an economic downturn on a global scale," it said in a statement.

"As a result, the economic situation in and outside of Japan has been deteriorating rapidly."

All aren't losing money. Nintendo and Microsoft as companies made a profit. Only corporations that are being run badly are losing money.

And these guys are buying Sanyo. What does that tell you, Korea has truly screwed japan.