• Kyodo

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Panasonic Corp. is arranging pay cuts for its executives of around 30 percent starting in July over the firm’s deteriorating earnings, sources said Saturday.

The firm will likely cut compensation for President Fumio Ohtsubo, who will become chairman pending approval at a shareholders’ meeting in June, and Senior Managing Director Kazuhiro Tsuga, the incoming president, for six months or longer, the sources said.

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