Hitachi Ltd. said Thursday it expects a record group net loss of ¥788 billion for the business year that ended in March, worse than its previous forecast of ¥700 billion.
Hitachi, an all-around electronics maker ranging from home appliances to nuclear reactors, lowered its already grim forecast because the harsh business environment has prompted it to write down more deferred tax assets.
"We can't be optimistic about the world economy for fiscal 2009," Hitachi Executive Vice President Takashi Miyoshi told a news conference.