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 | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. |