Panasonic Corp., Japan’s second- biggest TV maker, plunged by the daily limit in Tokyo trading after forecasting a loss 30 times bigger than analyst estimates because of restructuring costs and falling demand.
Japan’s biggest makers of phones, televisions and chips say they’ll lose about $17 billion this year, about three-quarters of what Samsung Electronics Co. will spend on research to lengthen the lead over its competitors.
Corporate profits probably rose to a record last quarter, with demand for items from Caterpillar Inc. equipment to Daimler AG cars holding up so far in the face of supply disruptions from the earthquake in Japan. The estimates six months out may prove too rosy, investors said.
Sony Corp. sold its stake in the venture with Samsung Electronics Co. to make liquid-crystal displays to the South Korean company after predicting an eighth consecutive year of losses from TVs amid sluggish demand.
Japan’s Nikkei 225 Stock Average fell 25.55, or 0.3 percent, to 9,401.16 as of the 3 p.m. close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Sony Corp., the world’s second- largest maker of video-game machines, shouldn’t count on Yukinobu Takeda to stand in line for the $380 PlayStation Vita when the portable player begins selling this year.