Sanyo Electric Co, a consumer electronics firm, said it has now widened its financial year to March 2005 net loss forecast to 121 billion yen (approx. U.S. $1.1 billion) from 71 billion yen (approx. $672.3 million).
The company said this is due mainly to sluggish demand for digital-related products, the earthquake that hit its plant in Niigata last year, and losses arising from some accounting changes.
It boosted its year to March pretax loss estimate to 64 billion yen (approx. $606 million) from 47 billion yen (approx. $445 million), with sales now seen 2.49 trillion yen (approx. $23.6 billion) instead of 2.53 trillion yen (approx. $23.9 billion). (AFX)
to Daily News