Friday, October 24, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Internet Explorer 11 Toolkit Allows Enterprise Admins "Spy" On Their Employees
FCC Says Airwave Auction To Delay Until 2016
HP Broadens Moonshot Portfolio With Intel-powered Models
Microsoft To Keep Nokia Brand For Low-end Smartphones
LG Introduces Its First Octa-Core Application Processor
Cloud and Surface 3 Drive Microsoft's Revenue
Micron Urges Investors To Reject TRC Capital's Unsolicited Tender Offer
Facebook Returns To Chat Roots With Rooms App
Active Discussions
Copied dvd's say blank in computer only
How to generate lots of different CDs quickly
Yamaha CRW-F1UX
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
 Home > News > General Computing > Panason...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, February 04, 2014
Panasonic Reports Operating Profit For 3Q 2013


Panasonic's profit rose 20 percent in the October-December quarter as growth in businesses such as smart home systems offset losses in its TV and appliance divisions.

The Japanese company on Tuesday reported net income of 73.7 billion yen ($728 million), up from 61.3 billion yen a year earlier.

Sales increased by 10 percent to 2.0 trillion yen, helped by new home construction in Japan, strong auto sales and the depreciation of the yen.

Under such business circumstances, Panasonic has been promoting initiatives in restructuring unprofitable businesses and developing strategy for future growth in a group formation through its Business Division system to revitalize each business.

The company has decided to discontinue its PDP production, and exit from its resin-based multi-layer printed circuit board business and thin and high density interposer business among the printed circuit board business.

In addition, Panasonic and Tesla Motors (Tesla) reached an agreement in which Panasonic will expand its supply of automotive-grade lithium-ion cells to Tesla. The company also announced its share purchase agreement for VIKO, a Turkish wiring device maker.

Panasonic's Board of Directors has also agreed to conduct an absorption-type company split, effective June 1, 2014 (planned), in order to transfer its business relating to the development, manufacture and sales of semiconductor and other related products belonging to the Semiconductor Business Division (BD) of Panasonic, to a company to be newly incorporated in March 2014 by Panasonic.

At the same time, Panasonic resolved to enter into a share transfer agreement with UTAC Manufacturing Services Ltd., a wholly-owned subsidiary of UTAC Holdings, a manufacturer specialized in semiconductor assembly, in order to transfer to UMS, effective June 1, 2014 (planned), all shares held by Panasonic (through its subsidiaries) in three (3) subsidiaries whose factories operate semiconductor assembly lines in Singapore, Indonesia and Malaysia.

Battered by competition from Samsung and others, Panasonic has been trying to shift from consumer electronics to more profitable businesses such as batteries, solar panels and home automation.

The company raised its profit forecast for the fiscal year ending March to 100 billion yen from the 50 billion yen profit it forecast in October.




Previous
Next
Sharp Reports Improved Results        All News        Credit Card Data Breach Targets Hotels, Restaurants and Lounges
Sharp Reports Improved Results     General Computing News      Credit Card Data Breach Targets Hotels, Restaurants and Lounges

Get RSS feed Easy Print E-Mail this Message

Related News
Panasonic Develops 85-inch 4k Touch Screen, Showcases New HEVC LSI
Panasonic Commercializes Pin-Shaped Lithium Ion Battery For Wearables
Panasonic To Close DVD-player Factory In Slovakia
Panasonic and Leica Expand Partnership Agreement
Panasonic Reveals The Lumix DMC-LX100, Lumix DMC-GM5 Cameras And the DMC-CM1 Smartphone
Panasonic Showcases Optimized Workflow at IBC 2014
Panasonic Announces Rugged Toughpad FZ-E1 Tablet at IFA 2014
Panasonic Legendary Audio Brand Technics Returns
Panasonic and Tesla Sign Agreement for the Gigafactory
Panasonic Seeks To Sell Its Mobile Base Station Business to Nokia
Panasonic Updates Toughpad FZ-G1 10-inch Tablet
Intel To Manufacture Future Panasonic SoCs Using Intel's 14nm Low-Power Process

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .