TOKYO - JAPANESE electronic components maker TDK Corp said on Thursday it would close four overseas manufacturing bases and cut more than 8,000 workers as it faces its biggest-ever annual net loss this business year.

The company said it expects these restructuring measures will help improve its annual operating profit by 62.9 billion yen (S$1 billion).

TDK now expects to plunge into a 28 billion yen net loss in the year to March due to weak orders and a stronger yen. It now expects the dollar to average 90 yen in the January-March quarter, against its previous estimate of 100 yen.