Matsushita Electric Posts $3.4-Billion Loss

Japanese consumer and industrial electronics giant Matsushita Electric Industrial Co. posted a loss of $3.4 billion for the last fiscal year--its biggest annual loss--hurt by restructuring costs and a global slump that battered sales.

The company behind the Panasonic and National brands said its group net loss totaled $3.4 billion for the year ended March 31 on a 10.5% drop in sales to $53.7billion.

The loss was the largest since the company’s founding more than 80 years ago and reflects Matsu- shita’s problems in dealing with the global technology slump as well as weak marketing of its best-known brands.

In New York, Matsushita shares closed down 13 cents to $13.42 on the NYSE.