Saturday, February 28, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
New Draft Bill Focuses On Consumer Data Privacy
Uber Says Breach Affected 50K Drivers
Google Showcases Future Silicon Valley Headquarters
Lenovo Offers Free McAfee LiveSafe Following Superfish Security Concerns
Yahoo Gains Search Share
Twitter To Offer More User Safety Features
Google to Start Ranking Mobile-friendly Sites Higher
Qualcomm Extends LTE to Unlicensed Spectrum to Enhance Mobile Experiences
Active Discussions
Need serious help!!!!
burning
nvidia 6200 review
Hello
Burning Multimedia in track 0
I'm lazy. Please help.
sanyo e6 camera
need help on some cd burning...
 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 Showcases VR Headset, Produces World's Largest Aspheric Lens
Panasonic Reports Third Quarter Dip
Panasonic LUMIX GF7 Camera Marries Selfie Functions with Classic Style
Panasonic Showcases 8K Display For B2B
Panasonic Showcases Next Generation Blu-ray Disc Player at CES 2015
Panasonic at CES 2015
Panasonic Expands Toughbook H2 Battery Recall in The United States
Panasonic Raises Profit Outlook
Panasonic AX800 4K ULTRA HD TVs Update Adds Compatibility With Netflix 4K Streaming
Panasonic Introduces Rugged 7-inch Android Tablet
Panasonic to Start Licensing Unified IP Core for HD-PLC
Panasonic to Offload Sanyo's North America TV Business

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .