Panasonic losses spiral 10-fold to €4.2bn

Panasonic’s January-March losses ballooned 10-fold to 438 billion yen (€4.2bn), completing a year of record red ink at the Japanese electronics maker battered by natural disasters and an ailing TV business.

The firm racked up a 40.7 billion yen (€393m) loss for the same period the previous year.