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Sanyo Electric Co said it is likely to incur a group net loss for the first time in 4 years, forecasting a 70 billion yen loss for the year ending March 31 compared with an 8 billion yen profit projected in October.
The major consumer electronics maker attributed the downward revision to heavier valuation losses on its securities holdings caused by the recent stock market plunge, despite steady sales growth in its core audiovisual and communications products. (Kyodo News)
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