(Reuters) - Japan's Panasonic Corp (6752.T) is likely to post a net loss of more than 100 billion yen ($1.1 billion) for the year ending in March 2010, the Yomiuri newspaper reported, as the consumer electronics maker grapples with a stronger yen and slowing demand.
That is in line with an average estimate of a 105.4 billion yen net loss in a poll of 17 analysts by Thomson Reuters.
Analysts expect the company to suffer a second straight year of losses this financial year, as the industry is mired in a global slump that is shaping up to be nastier than the last major downturn in 2001 after the IT bubble.
Separately, the Sankei newspaper said Panasonic was likely to forecast an operating profit for this financial year but project a net loss due to costs to pull out of unprofitable operations.
Panasonic spokesman Akira Kadota said the reported figure was not something the company had announced.
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