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Panasonic reports ¥38.6bn profits Tuesday, 31st July 2012
Panasonic Corp has reported a sevenfold increase in quarterly profit.
According to Reuters, boss Kazuhiro Tsuga is looking to use the extra cash to restructure the business.
The electricals company today posted a first-quarter operating profit of JPY 38.6 billion, in line with analysts’ estimates.
Full year operating profit rose to JPY 260 billion from 43.7 billion.
First-quarter income hit JPY 12.81 billion, following a JPY 77.2 billion loss in the 12 months to 31 March.