Panasonic 8-fold increases profit in the second quarter
Japanese Panasonic today announced the nearly 8-fold increase in revenues in the second quarter, after the company changed the scheme for the formation of corporate pensions. In addition, to help the fallen and for the year of the yen against the dollar. In addition to all this, Panasonic and helped grow the division's sales for the production of products for the automotive industry and household appliances. 's net profit for the period April to July of this year amounted to 107.8 billion yen, or $ 1.1 billion, against a profit of 12.8 billion yen a year earlier.
In Panasonic told us that the company has introduced a new pension scheme for employees. Whereas previously the majority of workers have a fixed system, but now it is based on the employee's contribution to the business. It's still possible to reallocate approximately 79.8 billion yen or 810 million dollars in profit Panasonic. During the current fiscal year, to be completed in March 2014, the company expects the net profit of 50 billion yen, against last year's record-breaking losses in the amount of 754.25 billion yen a year earlier.
At the same time, Panasonic expects its sales weakened by 1.4% to 7.2 trillion yen. The company said that the weakening sales due primarily to the decline in consumer spending in Japan, as well as general economic difficulties in the global system of consumption goods. During the reporting quarter, sales of Panasonic rose 1% to 1.82 trillion yen, or $ 18.5 billion , overseas sales growth was 8%, while in Japan, Panasonic showed a 6% decrease in revenue, while Panasonic has historically always got about 50% of their income from work in the Japanese market. At Panasonic say that they intend to deal with the decline in sales for the through the issuance of the most popular solutions as well as by accelerating sales of so-called eco-friendly products with low consumption or focused on renewable energy .
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