Panasonic profit soars on automotive business growth

phys.org | 5/10/2018 | Staff
SweetStuff33 (Posted by) Level 3
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Japanese electronics giant Panasonic on Thursday said its full-year net profit surged, helped by growth in its automative-related business.

The Osaka-based company said net profit for the fiscal year to March rose 58 percent to 236 billion yen ($2.1 million), up from 149 billion yen in the previous year.

Increases - Sales - Profit - Growth - Businesses

"Increases in both sales and profit were achieved for fiscal 2018 due mainly to growth in the automotive and industrial-related businesses," the company said in a statement, adding that exchange rates also contributed to increased revenue.

The company has been enjoying a solid recovery, particularly with healthy sales of electronics products for automobiles such as navigation units.

Sales - Thanks - Market - Growth - Eco-cars

The automative sales increased thanks to "market growth for eco-cars and expanded demand in advanced...
(Excerpt) Read more at: phys.org
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