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 TOKYO (AP) - Scandal-plagued electronics maker Sanyo said Monday it trimmed its losses for the fiscal year and forecast a return to profit for the current year as it cut costs.
Sanyo Electric Co. has undergone a reshuffle at its top management after acknowledging recently it had falsified its fiscal 2003 earnings, in which it had reported a profit but could have been in the red.
With a loss of 45.4 billion yen ($373 million) for the fiscal year through March, Sanyo has now posted losses for the three years running. But that was better than the 205.7 billion yen loss the previous year.
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