TOKYO: Matsushita Electric Industrial Co, maker of Panasonic electronics, reported a net loss yesterday for a second year due to losses on shareholdings and tax changes but, unlike rival Sony Corp, it forecast rising operating profits.
Matsushita’s outlook, while modestly below analysts’ expectations, was in stark contrast with Sony’s shock warning last week of a 30% fall in operating profit to a nine-year low for the current business year.
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