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Panasonic Seen Cutting Forecast as TV Makers' Misery Deepens

October 30, 2012

Panasonic Corp., Sony Corp. and Sharp Corp. may cut full-year earnings estimates by a combined 136 billion yen ($1.7 billion) as restructuring costs and falling demand hamper recoveries by Japan's top three TV makers.

Panasonic may post a loss of 24.7 billion yen in the year ending March 31, according to the average of 17 analyst estimates compiled by Bloomberg, compared with its projection for net income of 50 billion yen. Sony's net income may be 5 billion yen, compared with its 20 billion-yen forecast, and Sharp's loss may be 296 billion yen

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