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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Japan's Sanyo braces for zero profit: report AFP - 1 hour 2 minutes ago TOKYO (AFP) - - Japan's struggling Sanyo Electric Co. is set to downgrade its earnings forecasts for the year to March, expecting a strong yen to wipe out its net profit almost entirely, according to a report. Sanyo, which is to become a subsidiary of Panasonic Corp. later this year, will lower its forecast for group net profit from 35 billion yen (384 million dollars) to almost zero for the full year to March, the Asahi Shimbun said. Its forecast of operating profit would be revised down by 40 percent to 30 billion yen from 50 billion yen, with sales expected to fall below two trillion yen for the first time in nine years, it said. The company's earnings from microchip and other electronics parts are rapidly worsening due to the yen's appreciation, the Asahi said. The company will announce the revised forecasts this week, the newspaper said without citing its sources. The yen was trading at around 91 to the dollar at the end of last week, compared with above 99 at the end of March last year. No comment on the report was available from Sanyo on Sunday. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Canon had slow holiday sales, sees rough 2009Reuters - 23 minutes ago US-BUSINESS SummaryReuters - 28 minutes ago Rouble to be volatile, rebound in 2009 - Cen BankReuters - 28 minutes ago AirAsia X eyes Japan after Tokyo relaxes tough visa ruleAFP - 31 minutes ago Russia devalues rouble on 1st trading day of 2009Reuters - 35 minutes ago Enlarge Photo Japan's Sanyo braces for zero profit: report Related Photos Slideshow Full Photo Coverage: Business & Economy Most Popular – Business Viewed Is Tintin gay? Cartoon birthday boy dogged by rumours Citigroup: 2-billion-dollar exposure to LyondellBasell Half the planet could be hit by food crisis by 2100: study Marks & Spencer to axe 1,230 jobs and close 27 stores Finance fights sex for Aussie dictionary honour View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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