Panasonic posts first full annual profit for three yearsApril 28, 2014 - 17:20 AMT PanARMENIAN.Net - Japanese consumer electronics giant Panasonic has reported its first full-year profit for three years, with the weaker yen helping to boost sales, according to BBC News. The maker of the Lumix camera posted profits of 120.4bn yen ($1.2bn) for the year to March, compared with a 754bn yen loss a year earlier. The company also said cost cutting had boosted its profitability. Panasonic is forecasting a 16% jump in net profit to 140bn yen for the current financial year. This increase is based on the economic recovery in the U.S. and Europe. Panasonic has more than 600 business units within the organization, with interests ranging from home appliances to housing equipment such as ventilation systems, as well as industrial products in the automotive and robotics sectors. Sales in its appliances division rose by 10% from one year ago, which was mainly driven by a surge in consumer spending in Japan ahead of the rise in the country's consumption tax. Japan increased the consumption tax rate to 8% from 5% on April 1. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |