Joining a chorus of ailing U.S. automakers, Toyota Motor Co. (TM) yesterday (Monday) forecast its first operating loss in 71 years on plummeting demand and sharp appreciation of the Japanese yen. The announcement prompted Moody’s Investors Service to consider downgrading the company’s top-rated credit.

Panasonic Corp. (ADR:PC) said today (Friday) that it will spend up to $9 billion to acquire majority stake in rival Sanyo Electric Co. Ltd. (OTC:SANYY).

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Surrounded by global recession, Tokyo-based Sony Corp. (ADR: SNE) said it plans to eliminate 16,000 jobs, the biggest of several moves intended to cut more than $1.1 billion (100 billion yen) from its annual expenses by March 31, 2010.

Japan’s Sanyo Electric Co. Ltd. (OTC ADR: SANYY) has become the latest company to become part of the industry cadre that’s buying liquid-crystal display (LCD) panels from Sharp Corp. (OTC ADR: SHCAY) for use in flat-panel televisions.