By Michael Kitchen, MarketWatch LOS ANGELES (MarketWatch) -- Japanese earnings may dominate the coming week in Asia, with several tech giants likely to post grim results in the face of a strong yen and other headwinds. October-December results on Thursday from mega-conglomerate Sony Corp. (SNE) will likely serve as a centerpiece, and the news is unlikely to be good for shareholders. The company has already warned of a ¥90 billion ($1.2 billion) net loss for the fiscal year ending in March, which according to Reuters would be its eighth in a row. That forecast came ahead of Sony's announcement earlier this month that it would take a ¥33 billion one-off charge for the quarter after its Sony Ericsson joint venture posted a surprise loss for the period. As a result, a Thomson Reuters survey has pegged a 94% plunge in operating profit for the quarter, with a downgrade to full-year estimates also reportedly likely. Part of the problem for Sony has been currency effects, with the U.S. dollar remaining below ¥80 for the quarter, jacking up prices of the company's exports in relation to those of competitors in South Korea and elsewhere. Meanwhile, production problems linked to flooding in Thailand late last year and slumping demand in Europe are also seen weighing on results. Such troubles will also likely surface in Panasonic Corp.'s (PC) earnings on Friday, for which Reuters is tipping a 41% drop in operating profit. Panasonic -- which like Sony is forecasting a fiscal-year net loss -- also faces challenges from an unprofitable television unit and costs involving the integration of its Sanyo subsidiary. Other earnings to watch for include Toshiba Corp. (TOSYY) and Honda Motor Co. (HMC) on Monday, Sharp Corp. (SHCAF) on Wednesday, and Hitachi Ltd. (HIT) on Thursday. On the data front, the markets will get a look at key Chinese manufacturing gauges on Wednesday, with both the government-sponsored and privately compiled versions of the Purchasing Managers' Index due out. The previous month's twin surveys of China manufacturers offered a split decision, with HSBC reporting a contraction in the sector, while the government-sponsored PMI showed slight growth. The outlook for the upcoming PMIs isn't very good, at least for the one from HSBC, which reported earlier this month that the initial 85%-90% of responses pointed to a reading of 48.8, below the 50 mark that separates expansion from contraction. Given the important role manufacturing plays in the Chinese economy, the surveys will likely move shares in Shanghai and Hong Kong, as well as other Asian bourses.
