p2pnet.net News:- An earthquake in Niigata, Japan, last October killed 40 people and injured some 2,900.

It’s also one of the reasons Sanyo, whose its chip-making plant is in the city, is reporting losses.

“The net loss for the three months to December stood at 17.6 billion yen (171 million dollars) against a net profit of 9.9 billion yen a year earlier,” says Agence France Presse. “Its pretax loss came to 11.9 billion yen, reversing a pretax profit of 18.1 billion yen as revenue fell 5.0 percent to 620.6 billion yen”

A Sanyo spokesman is quoted as saying, “Competition in the Japanese digital camera market grew so severe and a slump in domestic sales and falling prices for digital cameras hit us hard.

Sanyo also estimates the quake cost it 87 billion yen, including 50.3 billion yen worth of physical damage to the factory, adds AFP.

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See:-
earthquake - Sanyo incurs net loss on killer quake, sales slump in digital cameras, Agence France Presse, January 31, 2005

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