Sanyo warns of net loss for 08/09, hit by recession

TOKYO, March 24 (Reuters) - Japan's Sanyo Electric Co Ltd 6764.T on Tuesday slashed its earnings outlook and warned of a 90 billion yen ($920 million) net loss for the year ending this month, hurt by a worsening global recession.

The electronics maker said its rechargeable battery, electronic parts and semiconductor businesses were hit hard by the economic slump, which accelerated in the fourth quarter.

The company had previously expected to break even on a net basis for the year ending March 31, but it now expects a net loss after booking additional restructuring costs, it said.

The Osaka-based firm also forecast zero operating profit, down from 30 billion yen in its previous estimate.

Sanyo, the world's top maker of rechargeable batteries, is set to be acquired by bigger rival Panasonic Corp (6752.T). ($1=97.78 Yen) (Reporting by Taiga Uranaka; Editing by Chris Gallagher)