Hitachi has revised its original forecast of losses for the fiscal year ending March, to 788billion yen.

Hitachi forecasts record loss
The Japanese electronics maker had previously predicted a net loss of 700bn yen partly as a result of smaller projected tax refunds. If the amended forecast is correct, this would result in the worst annual loss for a Japanese manufacturer and the second largest in Japanese corporate history.
The company also lowered its sales forecast for the fiscal year ending March to 10trillion yen from its original projection of 10.02trillion yen. Hitachi has already announced it is to axe 7000 jobs globally across its car equipment and electronics divisions.
Last year the Hitachi Group recorded a net loss of 58bn yen.

Author
Chris Shaw


Supporting Information
http://www.hitachi.com/

This material is protected by Findlay Media copyright 2009.
See Terms and Conditions.
One-off usage is permitted but bulk copying is not.
For multiple copies contact the sales team.

↑ Grab this Headline Animator