Panasonic loses US$ 7.5 million to end March

The Japanese electronics industry has been in crisis in recent years, suffering from weak demand as consumers  get spoiled for choice and the tablet market and PC gaming dilute the need for consoles and televisions. Panasonic has been struggling to make money in these challenging conditions, losing a little less than the previous year but still dropping a massive US$7.5 billion in the year to the end of March.

Another Japanese giant Sony, suffering from the same negative trading conditions, has just crept into profit afer 5 years of losses, posting a US$ 420 million profit, following  a loss of US$4.35 billion the previous year.

This was achieved by substantial reduction of the headcount, part of a massive cost cutting programme and helped by the Japanese Goverment's decision to lower the value of the yen, currently at the lowest level for three years against the US$