Panasonic Falls to 37-Year Low on Wider Loss Target
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Panasonic Corp., Japan’s second-largest TV maker, fell for a third day to the lowest level in 37 years after widening its loss estimate on restructuring costs and falling demand.
Panasonic fell 5.6 percent to 388 yen in Tokyo trading. That’s the lowest since February 1975, the year the Betamax video recorder was introduced. The stock has declined 41 percent this year, the ninth-largest drop among companies in Japan’s benchmark Nikkei 225 Stock Average.