AFP, Tokyo :
Japanese electronics giant Panasonic on Thursday said its full-year net profit surged, helped by growth in its automative-related business.
The Osaka-based company said net profit for the fiscal year to March rose 58 percent to 236 billion yen ($2.1 million), up from 149 billion yen in the previous year.
“Increases in both sales and profit were achieved for fiscal 2018 due mainly to growth in the automotive and industrial-related businesses,” the company said in a statement, adding that exchange rates also contributed to increased revenue.
The company has been enjoying a solid recovery, particularly with healthy sales of electronics products for automobiles such as navigation units.
The automative sales increased thanks to “market growth for eco-cars and expanded demand in advanced driver-assistance systems,” Panasonic said.
Japanese electronics giant Panasonic on Thursday said its full-year net profit surged, helped by growth in its automative-related business.
The Osaka-based company said net profit for the fiscal year to March rose 58 percent to 236 billion yen ($2.1 million), up from 149 billion yen in the previous year.
“Increases in both sales and profit were achieved for fiscal 2018 due mainly to growth in the automotive and industrial-related businesses,” the company said in a statement, adding that exchange rates also contributed to increased revenue.
The company has been enjoying a solid recovery, particularly with healthy sales of electronics products for automobiles such as navigation units.
The automative sales increased thanks to “market growth for eco-cars and expanded demand in advanced driver-assistance systems,” Panasonic said.
