Panasonic Corp said it will lose almost US$10 billion this business year as it cleans house of poorly performing operations, writing down billions of dollars of goodwill and assets in its mobile and energy units while its new boss readies for a fresh bout of restructuring.
Shares in Panasonic, founded in 1918, plunged by nearly a fifth on Thursday to their lowest in more than three decades.
via Business feed http://www.scmp.com/business/companies/article/1074213/panasonic-cleans-house-writedowns
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