ASIA

Matsushita Battered by Losses on MCA Sale: Japan’s biggest electronics maker reported a $1.32-billion quarterly loss, attributing the poor result to the effect of the weak dollar when it sold control of U.S. entertainment company MCA Inc. The loss in the April-June quarter reported by Matsushita Electric Industrial Co., maker of Panasonic, Quasar and other brands, provides a vivid illustration of the financial havoc on Japanese businesses caused by the dollar’s decline against the yen. The diminished value of the U.S. currency means U.S. properties purchased by Japanese investors just a few years ago have declined markedly when calculated in yen terms.