Monday, February 20, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
New Samsung Galaxy Tab S Series To Include Windows Version
Researchers Introduce New Wireless Charging Technology
HTC Takes VR lead in China
SoftBank To Offload Sprint: report
New Mac OS X Malware Steal Passwords, And iPhone Backups
Xiaomi Launches a Smart GPS-Watch and A Smart Guitar
Alphabet Advances Its 'Loon' Baloon Internet Plan
Samsung Chief Arrested
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 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 Brings High Contrast Transparent Screen to Market
Panasonic Develops First Organic CMOS Image Sensor With Electrically Controllable Near-Infrared Light Sensitivity
Terahertz Wireless Allows Data Transfer 10 Times Faster Than 5G
U.S. Authorities Probe Panasonic's Avionics Business
Panasonic To Partner With UMC To Produce ReRAM
Panasonic Develops Flexible battery Small Enough To be Embedded into Credit Cards
Panasonic Joins The OLED TV Camp, Showcases Head-mounted Display
Panasonic Demonstrates "Companion" Robot at CES
CES: Panasonic Launches Flagship Lumix DMC-GH5, DMC-FZ80 And The Mirrorless DMC-GX850
Panasonic Unveils New Ultra HD Blu-ray Players
Tesla and Panasonic Will Begin Manufacturing Solar Cells and Modules in Buffalo
Panasonic May Buy Headlight Manufacturer ZKW

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .