Panasonic writes down US$3b goodwill on energy, cell phone business

Panasonic Corp said on Wednesday it is writing down billions of yen in goodwill related to its energy and mobile phone business, a house cleaning that presages a fresh restructuring of the sprawling electronics conglomerate. It said it is writing down 238 billion yen (US$2.99 billion) related to its solar and mobile phone business. Total restructuring costs of 356 billion yen also include intangible assets of 87.6 billion yen, mostly in its solar business. The remainder is related to redundancy costs.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1073937/panasonic-writes-down-us3b-goodwill-energy-cell-phone