Panasonic: Annual profit soared 49% to $1.5bn
Japanese electronics giant Panasonic
Tokyo - Arab Today
Japanese electronics giant Panasonic said Tuesday its annual net profit soared 49 percent, crediting strong results at its lesser-known auto parts unit and lower costs linked to a sweeping restructuring.
The Osaka-based firm's earnings for the fiscal year to March came to 179.49 billion yen ($1.5 billion), while revenue edged down 0.3 percent to 7.7 trillion yen.
For the current fiscal year, which started this month, Panasonic said it expects a 180 billion yen net profit on revenue of 8.0 trillion yen.
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