Electronics maker Sanyo Electric Co. will likely post a group net loss of 70 billion yen (U.S. $590 million) for the year to March 31, hurt by heavy losses on stockholdings, the Nihon Keizai Shimbun said.
Sanyo, enjoying steady sales of digital cameras and other information-related products, earlier projected a net profit of eight billion yen ($67.5 million) for the year. Its operating profit, however, will likely soar about 50 percent to nearly 80 billion yen ($674.8 million), compared with a 70 billion yen ($590 million) profit forecast earlier, helped by steady sales of electronics products, the paper said. (Reuters)
Back to Breaking News