Business

Panasonic returns to annual profit on weak yen

By Yuri Kageyama
Published April 28, 2014 11:18am ET
Add Washington Examiner on Google
Panasonic returns to annual profit on weak yen
FILE - In this Feb. 4, 2014 file photo, a shopper looks at Panasonic's flat-panel televisions at an electronics retail store in Tokyo. Panasonic returned to profit after deep losses for the past two fiscal years, as a weak yen and restructuring efforts helped a gradual recovery, and forecast a 16 percent increase in gains for the coming year. The Osaka-based maker of the Lumix camera and Evolta batteries reported Monday, April 28, 120.4 billion yen ($1.2 billion) in profit for the fiscal year through March 2014, a reversal from a 754.3 billion yen loss the previous fiscal year. (AP Photo/Shizuo Kambayashi, File) | Shizuo Kambayashi

TOKYO (AP) — Panasonic returned to profit after deep losses for the past two fiscal years, as a weak yen and restructuring efforts helped a gradual recovery, and forecast a 16 percent increase in gains for the coming year.

Like other Japanese electronics companies, Panasonic Corp. has been struggling amid intense competition from Apple Inc. and South Korea’s Samsung Electronics Co. Prices of gadgets have been falling, adding to Panasonic’s woes.

Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.

Tag:

Japan