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Panasonic posts modest gains on the back of plasma

May 1st, 2007 · No Comments

The world’s biggest consumer electronics company, Matsushita Electric Industrial, parent of Panasonic, has reported a net profit increase of 41 per cent. Much of the rise is attributed to increased production efficiencies and staff restructuring. Operating profit was up 11 per cent, to 459.5 billion yen; Consolidated group sales increased 2 per cent to 9,108.2 billion yen.
Of the 2006 fiscal year, the Corporation says: ‘the electronics industry faced severe business conditions in Japan and overseas, due mainly to rising prices for crude oil and other raw materials and continued price declines caused by ever-intensified global competition, mainly in digital products.’
The company’s AVC Networks division reported modest gains of 2 per cent, to 3,749.4 billion yen. Sales of video and audio equipment increased 6 percent from the previous year, driven by TVs and Lumix cameras.

Tags: Corporate · Plasma · Trade

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