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| Version 0 | Version 1 |
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| Hitachi posts record annual loss | Hitachi posts record annual loss |
| (10 minutes later) | |
| Electronics maker Hitachi has reported a record annual loss for a Japanese manufacturer, after demand for its products fell. | Electronics maker Hitachi has reported a record annual loss for a Japanese manufacturer, after demand for its products fell. |
| The Japanese technology and industrial conglomerate announced a net loss of 787.3bn yen ($8.1bn; £5.3bn). | The Japanese technology and industrial conglomerate announced a net loss of 787.3bn yen ($8.1bn; £5.3bn). |
| It warned that the next year would continue to be difficult and forecast a loss of 270bn yen. | It warned that the next year would continue to be difficult and forecast a loss of 270bn yen. |
| In January, Hitachi said it planned to cut up to 7,000 jobs globally because of a big fall in sales. | In January, Hitachi said it planned to cut up to 7,000 jobs globally because of a big fall in sales. |
| Revenue fell 11% to 10 trillion yen. | |
| The economic downturn has led to weak demand for Hitachi's electronics, chip and automotive products. | |
| "The global economy... is not expected to see a fully-fledged recovery until 2010 at the earliest," Hitachi said in a statement. | |
| "The global economic outlook is being shaped by concerns about the US and other industrialised nations slipping into negative economic growth, and about slowing economic growth in emerging economies and the yen's appreciation." | |
| Shares in Hitachi fell 5.2% to 381 yen ahead of the results. |