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The company attributed the downward revision of projected earnings to about 10 billion yen in costs for recalling defective washer-dryers, 11.1 billion yen in special allowances for voluntary retirees and other extra costs.
Sanyo will thus post a group net loss for the second straight year. Its group net loss came to 93.23 billion yen in the previous year that ended in March.
The company left consolidated sales and operating profit estimates unchanged. Its operating profit for the current year is projected at 25 billion yen on sales of 1.66 trillion yen, against 8.28 billion yen on sales of 1.77 trillion yen in the previous year.
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