Matsushita Communication Industrial Co. said Tuesday it has widened its estimate of losses for the year to March 31 because of wobbling sales of mobile phones at home and abroad.
The company said it will cut yearend dividends for the period.
Consolidated net loss is expected to come to 44 billion yen for the year against the earlier forecast of 30 billion yen, released Oct. 25.
Group pretax loss is expected to come to 60 billion yen against the earlier forecast of 37 billion yen on projected sales of 785 billion yen, down from the earlier projected 844 billion yen.
The company said it will cut per-share dividends for the second half to 7.50 yen against the earlier forecast of 12.50 yen.
This will bring the combined per-share dividend for the entire year to 20 yen against the earlier forecast of 25 yen.