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Panasonic cleans house with writedowns, sees $9.6 billion loss


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A logo of Panasonic Corp is pictured at its showroom in Tokyo November 1,2012. Panasonic said it will lose almost $10 billion this business year as it cleans house of poorly performing operations, writing down billions of dollars of goodwill and assets in its mobile and energy units while its new boss readies for a fresh bout of restructuring. REUTERS/Yuriko Nakao