A Japanese electronics manufacturer Panasonic showroom in Tokyo. Embattled Japanese consumer electronics giants Panasonic and Sharp have posted more than USD11 billion in combined losses over the nine-month period ending in December. On Friday, Sharp announced its losses had doubled in the nine months leading to December to USD4.6 billion. Panasonic, meanwhile, said it had lost about USD6.77 billion... 

Panasonic Corp., Japan’s second largest TV maker, saw its credit rating cut by two levels by Standard & Poor’s after it forecast a $9.5 bn loss 30 times bigger than analyst estimates. ­S&P said it has downgraded long-term debt to BBB, down from A-, as “huge losses for the second year in a row weaken the company’s financial profile and could further slow its recovery in the next... 

Panasonic President Fumio Ohtsubo The stocks of Japan’s electronics giants Sony and Panasonic have plunged to their lowest in over three decades with companies reporting USD 5.7 billion and USD 9.67 billion annual losses respectively. Sony’s shares dived 6.43 percent to 1,135 yen on Thursday, while Panasonic closed down 1.55 percent at 570 yen on Friday. The firms’ shares stood at their...