Hitachi Ltd., Matsushita Electric Industrial Co. and Mitsubishi Electric Corp. all posted record consolidated losses in fiscal 2001, according to earnings reports released Friday.
Their misery mirrors that of rival electronics manufacturers Toshiba Corp., Fujitsu Ltd. and NEC Corp., all of which reported huge fiscal 2001 losses on Thursday.
Hitachi, Matsushita and Mitsubishi attributed their results to a sharp decline in global demand for semiconductors and information technology-related products such as mobile phones.