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San Antonio Ragtime Society

  • San Antonio Ragtimne Society
    This is an organization that sponsors the only annual Ragtime Festival in Texas. A TAMUSA student is an active member.

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February 28, 2012

Panasonic - Hobbled Giant

Tuesday Feb 28, 2012

The high yen has Japanese manufacturers running for cover, why?  Because goods produced in Japan using the yen are higher priced than goods produced in countries with currencies lower relative to the yen. Toyota is having trouble making money as are other Japanese firms. 

The oldes joke in cost accounting tells the story of a business that lost money on every unit sold. Asked how the firm would make money the CEO replied, we will make it up on volume!  That reflected the last ten years for Panasonic.  The new CEO promises to focus on profit not volume. 

Note in this article that Panasonic is writing its investment in Sanyo Down. This is an example of fair value accounting or using an impairment test to determine carrying values. We are studying just that in Intermed II right now. 

And Elpida  the largest Japanese maker of DRAM chips filed for Bankrutpcy, again the strong yen was just too strong to support exports in a competitive market.

Posted at 06:48 AM in Financial Acct |

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