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Panasonic Net Profit for 9 months Decreased by 13%
The Net Income of Panasonic Corporation, one of the world’s largest manufacturers of household appliances and electronics, attributable to shareholders, for the first three quarters of 2018-2019 financial year (which completed on December 31) decreased by 13% and amounted to 173.7 billion yen (about $1.6 billion), as was mentioned in a press release.
The diluted profit per ordinary share in the reporting period amounted to 74.43 yen ($0.68) versus 85.75 yen ($0.78) per share a year earlier. The company’s operating profit declined by 8%, to 292.8 billion yen ($2.687 billion). The Japanese manufacturer’s revenue at the same time increased by 3%, to 6.083 trillion yen ($54.3 billion).
Following the results of the 2018-2019 financial year, which will complete on March 31, 2019, the Company expects net profit attributable to shareholders at 250 billion yen ($2.3 billion), which is 6% higher than in the previous financial year. At the same time, according to forecast, revenue will amount to 8.1 trillion yen ($74.3 billion), which is 1% higher than in the previous period.
Panasonic Corporation was founded in 1918; its headquarters is located in
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