Japanese electronics maker Panasonic is likely to suffer a net loss of more than JPY700 billion (USD9.2b) for the year to March, much bigger than it has forecast, hurt by losses from acquiring Sanyo Electric and a slowdown in global demand, the Mainichi newspaper reported on Friday. 

Panasonic, which is due to announce its latest quarterly results and forecasts later in the day, issued a statement saying the report was not based on any announcement it had made. 

It has said it expects a loss of JPY420b for the year. Last business year it had a net profit of JPY74b.