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Panasonic Corp. said Friday it logged a ¥378.96 billion group net loss for the business year that ended in March, drowning in red ink for the first time in six years due to rapidly slowing worldwide demand and the yen’s rise against other major currencies.

The Osaka-based electronics company also expects a group net loss of ¥195 billion in the year to March 2010, dragged down for the second consecutive year by restructuring costs.

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