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Panasonic reported a 40.7 billion yen ($499 million) loss for the January-March quarter. The loss was largely due to 61 billion yen ($748 million) in restructuring costs. Panasonic had reported an 8.89 billion yen loss for the same period the previous year.

The company did not release forecasts for the fiscal year that began April 1 because it could not yet calculate the full damage from the disasters.

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