Ailing audio and video equipment maker Aiwa Co. said Thursday its group net loss more than tripled in fiscal 2000 due to sluggish personal consumption in Japan and unfavorable overseas factors, including the rapid slowdown in the U.S. economy.
In the past business year through March 31, Aiwa incurred a consolidated net loss of 39.01 billion yen, up from the previous year's loss of 11.46 billion yen.
The steep increase was partially due to an extraordinary loss of 1.67 billion yen for an early retirement program Aiwa implemented as part of its rehabilitation efforts.