News.com
Smarting from a difficult financial quarter and earthquake damage at a major factory, Japanese conglomerate Sanyo has asked domestic employees to buy goods made by the company. Executives have been asked to buy about $20,000 worth of goods, while regular employees have been asked to buy $2,000 worth of goods. Sanyo, one of Japan's largest manufacturers of digital cameras, also lowered camera shipment estimates.
On Monday, the company reported a $170 million loss, compared with a profit of about $95 million, for the quarter ended Dec. 31. Revenue came to $599 million. Sanyo's earnings were hit by an earthquake in the Niigata region in October, which forced the company to suspend operations at its chip facilities.
ouch.
Smarting from a difficult financial quarter and earthquake damage at a major factory, Japanese conglomerate Sanyo has asked domestic employees to buy goods made by the company. Executives have been asked to buy about $20,000 worth of goods, while regular employees have been asked to buy $2,000 worth of goods. Sanyo, one of Japan's largest manufacturers of digital cameras, also lowered camera shipment estimates.
On Monday, the company reported a $170 million loss, compared with a profit of about $95 million, for the quarter ended Dec. 31. Revenue came to $599 million. Sanyo's earnings were hit by an earthquake in the Niigata region in October, which forced the company to suspend operations at its chip facilities.
ouch.