Panasonic cuts sales target on slowing China, emerging economies

Panasonic on Wednesday cut its full-year revenue forecast, citing a slowdown in China and other emerging economies, but added that net profit soared in the nine months to December. "The business environment has worsened due to (an) economic slowdown in emerging countries including China," the company said in a statement. Also Wednesday, Hitachi cited a slowdown in China as it cut its full-year net profit forecast by more than 20 percent, although the batteries-to-trains conglomerate said its nin