Electronics makers struggling / Sharp, Panasonic, Sony seek replacement for mainstay TV production
News On Japan via Yomiuri -- Nov 03
It has become obvious that Japanese home electronics manufacturers, once champions in the industry, are now lagging far behind their foreign rivals, as Sharp Corp., Panasonic Corp. and Sony Corp. recorded huge after-tax losses in their half-year account settlements as of September 2012.
The three companies' after-tax losses totaled more than 1.1 trillion yen.
In all three companies, new presidents were appointed this fiscal year; in each case they implemented business reforms, mainly streamlining of TV production businesses, which had been the main cause of the losses.
But the companies have not found a profitable new business to replace TV production, and gaps with foreign rivals, which have gone on the offense by expanding their business scale, have continued to widen.
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