Published: 28 October 1998 16:42 GMT
In an ominous signal that the Japanese economy could be following its South East Asian and Russian counterparts, electronics giants Hitachi and Toshiba have filed disappointing half year results.
Hitachi said it lost $1.05bn over the last six months ending 30 September. The company blamed its IT interests - in DRAM chips, PC's and monitors - as a primary contributor to the loss.
The company is warning that it is likely to suffer a massive loss at the end of the year.
Toshiba also posted an interim loss of $53m, but is confident that this will be turned round by the end of the year to a $126.5m profit though strong predicted notebook sales.
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