Japan 's GDP fell 4 percent last quarter , the fastest pace on record . The economy is still growing but at a slower rate than before and unemployment has risen to over 10 % ( up from around 7 % in early 2011 ). Sony Corp. announced net losses of $ 1 billion for the fiscal year ending March 31 , finishing a year in the red for the first time in 14 years . This was the fourth straight quarter the Japanese economy contracted .
Japan 's GDP fell 4 percent last quarter , the fastest pace on record . The economy is still growing but at a slower rate than before and unemployment has risen to over 10 % ( up from around 7 % in early 2011 ). This was the fourth straight quarter the Japanese economy contracted .