Panasonic said work hard to the result of this merger

Panasonic did not better, far from it, that its major competitor Sony: ex-Matsushita, who will buy Sanyo to give birth to the new number one global consumer electronics, has also completed the 2008-2009 fiscal year in red. Plasma TVs specialist admitted weekend a heavy loss of 379 billion yen (2.95 billion) online with forecasts last February, but much higher than announced by Sony (EUR 760 million).

Panasonic had published 281.9 billion yen profit a year ago... But, with the global crisis, the Osaka group saw its counters to degrade. The annual turnover fell by 14.4 to 7.765 billion yen (EUR 59.9 million). And operating profit fell from 86 to 72.9 billion yen. The 560 billion yen expected early in the year prior to the two "profit warnings" is from November to February. Like its competitors, Panasonic was swept in the second half by the sharp decline in demand and the strong lift Yen forcing its leaders to launch a broad restructuring plan. 15,000 job losses and the closure of 27 plants were announced in February to save 135 billion yen by March 2010. The cost of the operation occurs in the result with exceptional charges of 367,4 billion yen. Stock market turbulence mandates, the Group also supports impairment losses of portfolio (92 billion yen). At the same time, the activity has continued to deteriorate in all sectors.

Public audiovisual products branch (TVs, digital audio and video equipment) declined by 13, due particularly to a decrease of sales of TVs and cameras. The appliance assigned 9 due to low demand in air conditioners while the industrial automation division saw its sales fall in the same proportions. But it is the semiconductor part which recorded the largest fall: 21. The fault to the decline in sales but a decrease of the prices of components also. And the horizon is not at all be cleared for the 2009-2010. The Group expects a new net loss to $ 195 billion yen for a turnover which should again decline of 9.9, to 7,000 billion yen.

Panasonic is not only concerned with the relief of his situation. The electronics giant, launched in the fall, a public offer to purchase on rival Sanyo. End of December, the two parties fell 800 billion yen (6.15 billion) agree on a price to complete the operation before the end of the fiscal year 2008-2009. Las, the degradation of the environment has complicated the situation. Since then, it is the total blur on the launch date of the OPA. Panasonic said "work hard" to the result of this merger. But the regulatory marathon took much more time than expected: Panasonic and Sanyo undertook to examine the antitrust authorities of 11 countries, including the United States and China, to give the green light in terms of competition... to this day, only 5 have responded. And degradation of the financial situation of the two groups Sanyo has just announced a loss of 93 billion yen fact that Panasonic is perhaps less pressed today to quash his piggy bank.