Panasonic reports first annual profit in three years

Panasonic booth

Related Stories

Japanese consumer electronics giant Panasonic has reported its first full-year profit for three years, with the weaker yen helping to boost sales.

The maker of the Lumix camera posted profits of 120.4bn yen ($1.2bn; £710m) for the year to March, compared with a 754bn yen loss a year earlier.

The company also said cost cutting had boosted its profitability.

Panasonic is forecasting a 16% jump in net profit to 140bn yen for the current financial year.

This increase is based on the economic recovery in the US and Europe.

Panasonic has more than 600 business units within the organisation, with interests ranging from home appliances to housing equipment such as ventilation systems, as well as industrial products in the automotive and robotics sectors.

Sales in its appliances division rose by 10% from one year ago, which was mainly driven by a surge in consumer spending in Japan ahead of the rise in the country's consumption tax.

Japan increased the consumption tax rate to 8% from 5% on 1 April.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

From BBC Capital

Programmes

  • Evan Blass (known as evLeaks on Twitter)Click

    One of the world's top technology leakers - Evan Blass - explains how he gathers his secrets

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.