WIRE REPORTS

Wall Street Journal Picture Dims for Japanese Electronics Wall Street Journal ... projected a ¥780 billion ($10.18 billion) net loss for the current year, because of continued troubles at its television business?where a bet on plasma-display TVs has failed to pay off?and a write-down of its acquisition of Sanyo Electric Co. and more » Sanyo cuts US plant jobs to move to Malaysia The Malaysian Insider By Yow Hong Chieh KUALA LUMPUR, Feb 7 ? Sanyo Electric Co will close an ageing solar wafer factory in California to start up operations in Malaysia as solar panel prices continue to fall. The Japanese company's ¥45 billion (approximately RM1.77 ... and more » Sanyo Moving Silicon Factory to Malaysia, Laying Off 140 US Workers Solar Novus Today Sanyo Electric Co., Ltd., a unit of Panasonic Corp., plans to close its 30-megawatt (MW) Carson, California factory, which produces the silicon ingots and wafers that are used in manufacturing solar cells. This move will cause the layoff of 140 US ... and more » Sanyo to Close California Solar Wafer Plant 24/7 Wall St. Japan's Sanyo Electric Co. will close its Carson, California, solar wafer plant and fire about 140 workers by Ocober, according to a report from Bloomberg New. The small plant produces about 30 megawatts of wafers annually and the work will be ... and more » Panasonic to cut U.S. solar factory workforce SmartPlanet.com (blog) By Kirsten Korosec | February 6, 2012, 9:30 AM PST The Carson-based factory, which is run by Panasonic unit Sanyo Electric Co., will stop production next month and close in October, Bloomberg reported. The factory opened in 2003 and makes the ... and more » Sanyo Closing Solar Wafer Factory In Calif. As Malaysian Plant Ramps Up Solar Industry by SI Staff on Monday 06 February 2012 Sanyo Electric Co., a subsidiary of Panasonic Energy Co., will shut down a solar wafer factory in Carson, Calif., next month. The closure will affect approximately 140 employees. Masatsugu Uemura, a spokesperson ... and more » Sanyo Will Dismiss 140 Workers in California as Solar-Wafer Factory Close Bloomberg Sanyo Electric Co. will cut about 140 jobs and close an aging solar wafer factory in Carson, California, as it prepares to start up operations at a plant in Malaysia. The plant, which makes the equivalent of 30 megawatts of silicon ingots and wafers ... and more » The Daily Yomiuri Can Panasonic make right turn at crossroads? The Daily Yomiuri Panasonic intends to go on the offensive after eliminating all negative factors from the past, including goodwill amortization related to Sanyo Electric Co. But although it expects growth in the business of environmentally friendly energy, ... and more » Panasonic expects record $10-B loss for fiscal year '11 Business Mirror Moody's said Panasonic's financial strength has deteriorated since it acquired the remaining stakes in Sanyo Electric Co. and Panasonic Electric Works Co. Its debt rating was lowered to A2 from A1, while Sony's credit was cut to Baa1 from A3. and more » Panasonic expects to book record ¥780 billion net loss The Japan Times The massive projected loss also stems from the major electronics maker's decision to write off ¥250 billion in one-off costs associated with the acquisition of Sanyo Electric Co. Panasonic is writing off all the goodwill value of Sanyo ? the difference ... and more »

DAILY REPORTS

Feb 3 Panasonic joins ailing Japan giants Japan's Panasonic Corp warned of a record annual $US10.2 billion net loss, joining beleaguered rivals Sony and Sharp in a sea of red ink as they struggle to fix their broken TV businesses and show they have not lost their way. Panasonic's forecast loss of 780 billion yen ($US10.2 billion) for the year to March dwarfed expectations, and is almost all due to restructuring charges and writedowns for its Sanyo Electric unit. Sony on Thursday pressed its reset button after warning of a bigger-than-expected annual loss, announcing that Kazuo Hirai will take over from Stringer as CEO in April, triggering an 8 per cent jump in its share price on Friday, its biggest one-day per centage gain in almost a year. (Sydney Morning Herald) Feb 3 Panasonic projects record annual net loss Panasonic on Friday nearly doubled its projected net loss for the fiscal year to a record 780 billion yen ($10.2 billion) amid weak TV and mobile phone sales and ongoing restructuring costs after acquiring smaller Sanyo Electronics Co. Panasonic joins Sony and Sharp as the latest major Japanese electronics maker to predict huge losses for the year through March. That reflects the battering these brand name companies have taken from the yen's surge, a weak global economy, last year's tsunami disaster as well as flooding in Thailand, which disrupted supply networks. For the October-December quarter, Panasonic reported a net loss of 197.6 billion yen ($2.6 billion). A year earlier, it had a net profit of 40 billion yen for the same quarter. (AP) Jan 2 Panasonic reorganizes business fields, places more focus on energy-related biz Japan's major electronics maker Panasonic Corp. launched its new group structure Sunday, reorganizing its business fields and two wholly owned units into three main groups as it places greater emphasis on energy-related businesses. Panasonic's business fields are now divided into three groups - consumer, components and devices, and solutions - after it restructured five business segments that included operations of the two subsidiaries, Sanyo Electric Co. and Panasonic Electric Works Co. The 16 business divisions were consolidated into nine divisions including appliances, energy and healthcare under the three business fields. (Japan Times) Dec 23 Logo removal marks Sanyo's passing Sanyo Electric Co. has removed its logo from the headquarters building in Moriguchi, Osaka Prefecture, ahead of a groupwide reorganization next month by parent Panasonic Corp. As part of the move, all the logos of the major appliance maker, acquired by its bigger rival after management troubles in 2009, will be replaced with Panasonic logos, company officials said. The building for Sanyo's headquarters was completed in 1999, and the logo was installed that year. It was about 3 meters tall and 9 meters wide and installed on the exterior of the 10th floor. (Japan Times) Oct 20 Sanyo planning to slash 800 jobs Sanyo Electric Co. plans to cut some 800 jobs at its manufacturing base in Gunma Prefecture in line with Panasonic Corp.'s strategy to streamline personnel within the group, sources said Wednesday. The reduction, to be implemented through early retirements and other means, is expected to take place by the end of December. Management has already proposed the plan to its labor union, the sources said. Products made at the Gunma base, where some 5,000 employees work, include air conditioning equipment for business use, according to Sanyo. (Japan Times) [ More... ]