Panasonic Corp. said Thursday it incurred a net loss of ¥9.83 billion ($93 million) in the April to June quarter, its first red ink in nine years for the period, as the coronavirus pandemic dented sales in all segments, including automobile and aircraft equipment.
The loss follows a profit of ¥49.78 billion a year earlier, and stands out among electronics rivals Hitachi Ltd. and Fujitsu Ltd., which reported profit growth despite the pandemic in the same quarter.
Panasonic had a money-losing April to June quarter in 2011 shortly after the earthquake and tsunami disaster in northeastern Japan.