Japan's Matsushita Electric Posts US$1.59 BLN Fy Net Loss
sg.news.yahoo.com
OSAKA, May 1 Asia Pulse - As originally forecast in February of this year, Matsushita Electric Industrial Co. Ltd. (TSE:6752) posted sales declines and losses for the fiscal year ended March 2002.
Minus restructuring charges, the company reported a decline in consolidated operating profit for the year to a loss of 211.8 billion yen (US$1.59 billion), as compared with an operating profit of 188.4 billion yen in the previous fiscal year.
Consolidated group sales for fiscal 2002 were down 10 per cent to 6,876.7 billion yen (US$51.70 billion), from 7,681.6 billion yen in the previous fiscal year.
Of the total, sales in Japan decreased 17 per cent to 3,348.4 billion yen ($25.18 billion), from 4,033.8 billion yen, while overseas sales slipped 3 per cent to 3,528.3 billion yen ($26.53 billion), compared with the previous year's 3,647.8 billion yen.
Excluding the effects of currency translation, overseas sales were down 10 per cent from the previous year on a local currency basis. |
