Hitachi has devastating year

Electronics manufacturer Hitachi has ended the year with a huge loss.

Japan's largest electronics maker, Hitachi lost US$8 billion in the fiscal year ending March 31, with consolidated revenues down 11 per cent from last year.

It was the largest loss ever recorded by a Japanese manufacturer, according to the Shinko Research Institute.

Hitachi said it will cut unprofitable business lines, reduce staff and eliminate factories in Japan and overseas.