Circuit City's Collapse Costs Japan's Sony, Toshiba, Panasonic
Posted by: Kenji Hall on November 11, 2008
It’s no secret that Japan’s tech companies are bracing for a tough yearend holiday shopping period. Circuit City’s collapse just added to their misery. Sony Computer Entertainment, Sony’s video game unit, Toshiba America Business Solutions, Olympus, Nikon, Panasonic, Mitsubishi Digital Electronics and Sharp are among Circuit City’s 50 biggest suppliers to which it owes about $650 million (the retailer reported $3.4 billion in assets and $2.32 billion in liabilities). The amounts aren’t huge but they don’t exactly help at a time when all signs point to what’s likely to be a drop in consumer spending this holiday season.
None of the Japanese companies contacted would comment directly about the figures in Circuit City’s filing to the U.S. Bankruptcy Court for the Eastern District of Virginia.
Following are the Japanese tech companies with outstanding claims:
Creditor Name Amount of Claim
Sony Computer $60,009,803
Entertainment
Toshiba America Business $17,919,395
Solutions Inc.
Olympus Corporation $15,095,651
Nikon Inc. $14,926,445
Panasonic Company $13,283,022
National Acct.
Mitsubishi Digital $12,883,892
Electronics
Sharp Electronics Corp. $7,054,093
Fuji Photo Film USA $4,874,187
Onkyo USA $4,266,989
Pioneer Electronics $2,298,164
