Matsushita profit up performance is expected to reach 1.67 billion yen - Matsushita Electric - Electrical Industry

Beijing February 6, according to foreign media reports

, the world's largest plasma TV Manufacturer Matsushita Electric Industrial Co. said yesterday, caused by the reduction in consumer spending Electronic And Home Appliances Promote the growth of business performance, will the company expected operating profit this fiscal year, up 25%. Matsushita said that as of March 31 of this fiscal year, the company operating profit will reach 150 billion yen (about 1.67 billion U.S. dollars), higher than the company previously forecast 120 billion yen. Revenue this fiscal year will reach 7.35 trillion yen, higher than previously expected more than 5%. Matsushita also said that layoffs in common with the rival Sony's 5 million people, the company's consumer electronics sector profits this fiscal year will increase 22 times. The acquisition of the world's largest rechargeable battery maker Sanyo Motor After Matsushita president Fumio Ohtsubo (FumioOhtsubo) are looking to rely on batteries for energy efficient products and to compete with overseas rivals. Ichiyoshi Investment Management chief fund manager MitsushigeAkino said, "driven by the global economic recovery, these companies are benefiting. Most of the performance of business recovery, from spending cuts. Therefore, the prospects for these companies is not overestimated. " Matsushita shares Friday to close at 1,392 yen, down 3.1% over the previous day. This year, the Matsushita Electric's stock rose 5.1%, the Nikkei 225 index more than 4.6% decline. Annual net loss Matsushita Electric expects full year net loss remains unchanged at 140 billion yen. As of September 30 last year, Matsushita Electric layoffs 2.9155 million. Matsushita also said that in December last year bought Sanyo Motor After controlling stake, which is expected to promote the company's revenue growth. Ended December 31 of the third quarter, Matsushita's net profit of 323 billion yen, higher than the same period last year net loss of 631 billion yen. Bloomberg News survey, analysts had expected a net loss of Matsushita 34 billion to 55 billion yen. Matsushita Electric third-quarter revenue was 1.89 trillion yen, higher than the 1.88 trillion yen a year earlier. Operating profit of 101 billion yen, higher than the market analysts on average expected 73.6 billion yen. Matsushita said the production of television, cameras, mobile phones and audio equipment, digital AVC Networks, during the fiscal year net profit will be 70 billion yen, higher than the previous fiscal year's 32 billion yen; but business income will fall 8%. Panasonic flat-panel TVs in the third quarter to 497 million units sold, representing an increase of 48% over the same period last year. The company expects flat-panel TVs this fiscal year, total sales of 15.5 million units yet, in line with previous expectations. 3D TV Panasonic is expected in January 8, the company next year in the United States, Europe and Japan Sell A 100 million 3D TV. Panasonic North America chief executive YoshiYamada day in Las Vegas at the International Consumer Electronics Show (CES), said Matsushita will start sale in March this year, 3D TV. Currently, Matsushita Electric 3D TV mobile phone has not been determined, but the U.S. is expected to become the biggest market of the product. Matsushita Electric Friday also expects the fiscal year net profit appliance sector will grow 37% to 67 billion yen; the sector revenue will decline 15% year over year. Accessories and equipment sector company net profit rose nearly 5-fold, reaching 34 billion yen. Matsushita Electric in December last year spent 403 billion yen, acquired controlling stake in Sanyo Electric. Panasonic 6-year investment plan for the future of about 100 billion yen for the expansion of Sanyo Electric's solar cell business.

Matsushita profit up performance is expected to reach 1.67 billion yen - Matsushita Electric - Electrical Industry

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