InfoAnda - Panasonic reaps profit gain, set to streamline further |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Michigan Bans Alcohol Drinks Containing Caffeine | 5 November 2010
Sudan releases four foreigners arrested in border area | | 20 May 2012
Police: NC girl raped, killed on day she was taken | 21 November 2009

Israeli shoots 2 Palestinians in Jerusalem | International | | 12 September 2009

Forum Views () Forum Replies ()

Read more with google mobile : Panasonic reaps profit gain, set to streamline further |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Tales from the Trail Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Anatole Kaletsky Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Frederick Kempe Christopher Papagianis Mark Leonard Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Olympics Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Obama warns of economic "headwinds," sees euro surviving 30 Jul 2012 Aleppo rebels say they stand firm in "regime's grave" | 2:37am EDT Jury selected in Apple, Samsung patent trial 30 Jul 2012 Olympics fans find ways to circumvent NBC's online control 30 Jul 2012 WRAPUP 2-Aleppo rebels say they stand firm in 'regime's grave' 1:29am EDT Discussed 92 Romney backs Israel if needs to strike Iran: aide says 74 Syria sends armored column to Aleppo, strikes from air 72 U.S. fears Syria preparing for massacre in Aleppo Sponsored Links Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption Olympic best Our top photos from the London 2012 Olympic Games. Slideshow Olympic tattoos Athletes' tattoos are sported during the Games. Slideshow Panasonic reaps profit gain, set to streamline further Tweet Share this Email Print Related News Japan's Hitachi first-quarter beats forecast, warns of China pain Mon, Jul 30 2012 Smartphones power record Samsung profit of $5.9 billion during Apple lull Fri, Jul 27 2012 Nomura CEO quits as insider trading scandal widens Thu, Jul 26 2012 Nikkei bounces on short covering but euro worries sink Canon Thu, Jul 26 2012 Canon cuts profit outlook, signals euro pain for Japan Inc Wed, Jul 25 2012 Analysis & Opinion Chinese IP awareness, sown by West, bruises Apple Related Topics Tech » A man looks at Panasonic Corp's Viera televisions displayed at an electronic store in Tokyo June 27, 2012. Credit: Reuters/Yuriko Nakao By Tim Kelly TOKYO | Tue Jul 31, 2012 4:09am EDT TOKYO (Reuters) - Japan's Panasonic Corp reaped a near sevenfold gain in quarterly profit after slashing costs, and its new boss looks set to use that extra cash for a new round of layoffs and business restructuring to revive the electronics giant. Founded in 1918, the struggling maker of Viera TVs posted a record net loss in the last fiscal year, knocked down by fierce competition from overseas rivals such as Samsung Electronics. After taking over Panasonic in June, Kazuhiro Tsuga vowed to turn the company's focus to white goods such as fridges and washing machines from television sets, and move production to overseas factories. "It is easier for them to obtain profits than before (after a round of restructuring), but it is too soon to say from one quarter that Panasonic now has a structure to generate profits," said Takashi Oba, senior strategist at Okasan Securities. Panasonic on Tuesday posted a first-quarter operating profit of 38.6 billion yen ($493.67 million), in line with estimates by analysts. The company kept its forecast for full-year operating profit to rise to 260 billion yen from 43.7 billion yen, in part because it has stopped selling TV sets at a loss. The company also eked out 12.81 billion yen in first-quarter net income, following a 772 billion-yen loss in the 12 months to March 31. The first-quarter results are ahead of the company's expectations, but weak markets such as Europe and the United States as well of a slowdown in emerging economies remain a concern, CFO Hideaki Kawai told reporters after the earnings announcement. Panasonic expects to sell 15.5 million TV sets this business year, 2 million fewer than a year earlier. MORE TO DO The sprawling electronics giant, which cut its workforce by 36,000 people last year, or about 10 percent of its staff, is not out of peril, say investors. Amid a weak global economy and the ongoing sunset of a TV business squeezed by intense competition, Panasonic has to do more to revive its fortunes. "Their outlook doesn't suggest a solid turnaround is under way. It continues to be tough for them," said Makoto Kikuchi, CEO of Myojo Asset Management in Tokyo, speaking ahead of the earnings release. Tsuga agrees that action is needed for Panasonic to make it to its centenary. In the past four years, the company's combined losses have mounted to more than $15 billion while its market value has slumped more than 80 percent to less than $16 billion. At the start of the business year on April 1, Panasonic earmarked 41 billion yen for fresh restructuring this term. Tsuga, in his first sit-down with the foreign press as the company's president on July 12, said that bill may rise, which in turn would erode profits. Even after last year's job losses, Tsuga inherited a company that remains Japan's largest corporate employer with 330,000 workers. TURNAROUND PLAN The former head of Panasonic's audio visual unit has vowed to shutter or sell the parts of Panasonic that are not contributing to the bottom line. Tsuga has said he would deliver the framework of that revival plan to investors at the end of the current quarter. Panasonic, for a short time at least, may have to accept diminished revenue, Tsuga warned then, as it retools to fill in the earnings gap left by TVs with sales from household appliances, batteries, solar panels and other gadgets. Tsuga, who burnished his cost-cutting reputation during a three-year stint in charge of automotive components, said earlier this month he would complete his roadmap by February. He plans to fire the first salvo in his restructuring campaign, however, in October by reducing workers at Panasonic's headquarters to several hundred from 7,000, although many of those people will be dispersed to other business units rather than laid off. Panasonic's shares, which have fallen nearly 30 percent since the start of the business year compared with a 15 percent decline in the benchmark Topix index, finished the day 4.6 percent higher at 546 yen. ($1 = 78.1900 Japanese yen) (Reporting by Tim Kelly; Editing by Ryan Woo and Edmund Klamann) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Tuesday, 31 July 2012
Russia to get stronger nuclear navy, Putin says |
Analysis: Venezuela joins trade bloc big on politics, protectionism |
Russia signs tougher adoption deal with U.S. |
Saudi says detained Shi'ite cleric mentally imbalanced |
Egypt court move suspends constitution row |
Uganda's army denies supporting Congo rebels |
U.N. to send team into North Korea after floods |
U.S. sets duties on washers from Mexico, South Korea |
NY comptroller says MTA sided with Apple for Grand Central Store |
Twitter suspends reporter's account for NBC tweet |
Cirrus Logic's quarterly revenue rises |
Seagate results miss expectations on supplier issue |
RealD results miss estimates, shares slip |
PMC-Sierra second-quarter beats expectations |
Apps for 2012 Summer Olympic Games abound |
Henson's early sketches of The Muppets up for auction |
Madonna blames boos at Paris show on a few thugs |
Singer Tony Martin dies at age 98 |
Hobbit movie adaptation to be a trilogy |
Aleppo rebels say they stand firm in regime's grave |
Japan flags Chinese army's growing role as risk issue |
U.N. team to tour flood-hit North Korea, no word from leader Kim |
Security in focus as Clinton heads to Africa |
Survivors of crash that killed Cuba's Paya say it was an accident |
U.S. drive against al Shabaab pressures Somali-American money transfers |
Australia finds record drug haul among Thai terracotta pots |
Yemen confirms Italian is detained by tribesmen |
Jury selected in Apple, Samsung patent trial |
Interim Yahoo CEO Ross Levinsohn leaves company |
Renesas secures $633 million support from major shareholders |
Apple gears up for September 12 event, stokes iPhone talk |
Japan's Toshiba beats forecasts on power system sales |
Seiko Epson to pay Motorola $150 million to settle LCD dispute |
Panasonic reaps profit gain, set to streamline further |
Twitter suspends reporter's account for NBC tweet |
Olympics fans find ways to circumvent NBC's online control |
Homeland TV drama to focus on relationships in 2nd season |
New Yorker writer resigns after faking Bob Dylan quotes |
Bollywood superstar takes on real crusades in TV chat show |
Radical cleric Abu Qatada denied UK bail request |
Egypt's Mursi frees Islamists jailed by Mubarak |
Two car bombs kill at least 19 in Baghdad |
22 PKK militants killed in Turkey clashes: TV |
Iraq says will force out Iran dissident group |
Myanmar reforms likely to continue: U.S. State Department official |
UK fraud agency dealt fresh blow in Tchenguiz case |
Several hurt as Sudan police disperse protest in Darfur |
Second India blackout in two days cuts power to 670 million |
Apple may be considering stock split: Bernstein |
Microsoft relaunches Hotmail as social-friendly Outlook |
Law firm accuses Zynga of failing to disclose key data |
Hungary's Sziget festival gets boost from Glastonbury founder |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01