Sony Corp. plunged in Tokyo trading after unexpectedly forecasting an annual loss, the sixth in seven years, casting further doubt on Chief Executive Officer Kazuo Hirai’s ability to revive the company.
The day after Sony Corp . named Kazuo Hirai the frontrunner to succeed Chief Executive Officer Howard Stringer , Japan’s strongest quake hit. Three weeks into the job, an intruder hacked into the company’s online services.
Panasonic Corp., seeking to turn around after a record loss last year, said restructuring costs this year may exceed an initial estimate as the company takes charges to cut jobs and accounts for depreciation of factories.