InfoAnda - Sanyo's quarterly profit drops 67 percent

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

Australia intercepts boat of asylum seekers | 24 June 2009
Smiles and a warning as Lindsay Lohan ends probation | | 30 March 2012
Taiwan export orders show Asia slump deepens | 24 February 2009

Health Insurance Companies Increased Profits By 56% In 2009 | 13 February 2010

">Forum Views () ">Forum Replies ()

Read more with google mobile : Sanyo's quarterly profit drops 67 percent

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: Sanyo's quarterly profit drops 67 percent By YURI KAGEYAMA,AP Business Writer AP - Thursday, November 6 TOKYO - Sanyo Electric Co., a troubled electronics maker that may get bought out by bigger Japanese rival Panasonic, reported Wednesday its second quarter profit dwindled to about a third of what it was a year earlier. Net profit for the July-September period slumped 67 percent to 4.4 billion yen ($44 million) from 13.4 billion yen as a stronger Japanese currency, rising raw material costs and declining gadget prices hurt earnings. Last year, the sales of shares in Sanyo Electric Credit Co. and other assets had propped up profits, but that was absent this year. Still, the Osaka-based manufacturer stuck to its forecast for the fiscal year ending March 31, 2009, of 35 billion yen ($351 million) profit, up 22 percent from the previous year. Sanyo had been seen as a relative loser in Japan's crowded electronics sector until hopes surfaced recently about a takeover by cash-rich Panasonic Corp. Some analysts say Panasonic has much to gain by getting its hands on Sanyo's prized lithium-ion battery and solar panel businesses _ both green energy endeavors that could prove lucrative. Lithium-ion batteries are a key component in environmental cars, and solar panels are an alternative electricity source for homes. Sanyo on Wednesday reiterated its earlier denial that nothing has been decided following weekend Japanese media reports, including top business daily The Nikkei, which said the companies were in talks about a possible deal. Panasonic has also denied any decision. Ryosuke Katsura, senior analyst at Mizuho Securities Co. in Tokyo, believes a merger could be positive for both companies but only after Sanyo has undergone more restructuring. "It is still too risky for Panasonic to take on Sanyo as it is now," he said in a report released Tuesday. Some of their businesses overlap, and Panasonic's biggest targets are Sanyo's solar cell and battery operations, he said. Sanyo's July-September sales inched down 0.8 percent to 527 billion yen ($5.3 billion) as sales held up in its batteries and solar panel businesses. Sales were also good in flat-panel TVs, washing machines and digital cameras despite tough times, said Sanyo President Seiichiro Sano. "We feel that we are in the intermediate step in the process toward accomplishing the new midterm management plan," he said of the company's recovery strategy. Sanyo has been restructuring its shaky operations in recent years, cutting jobs and selling its mobile phone business. It swung back to profit in the fiscal year ended March after losing money for four years. Sanyo received a bailout from Goldman Sachs of the U.S. and two Japanese financial firms, Sumitomo Mitsui Banking Corp. and Daiwa Securities SMBC, in 2006. The fact that such financial companies that need cash hold a combined 70 percent stake may work in Panasonic's favor in cutting a deal. Sanyo has also battled an accounting scandal last year over falsifying earnings reports, which forced a reshuffle of its top management. The Nikkei said a Panasonic-Sanyo deal could accelerate consolidation in the computer chips industry and other areas. A merger among Japanese companies is preferable to losing important technology to overseas interests, it said. "Sanyo is likely to need more restructuring, but hopes are high the buyout will help make Japan's electronics industry grow more globally competitive," the newspaper said in Wednesday's editorial. Sanyo shares, which surged Tuesday on the buyout reports, gained 17.9 percent Wednesday to 230 yen ($2.30). Sanyo announced earnings shortly before trading ended. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Copper ends lower amid renewed economic concernsReuters - Thursday, November 6 Huge buying opportunity in emerging markets-van AgtmaelReuters - Thursday, November 6 Canada calls for Chinese exchange rate flexibilityReuters - Thursday, November 6 Isuzu may buy part of GM's mid-size truck ops-NikkeiReuters - Thursday, November 6 US STOCKS-Futures lower as economic worries weighReuters - Thursday, November 6 Most Popular – Business Viewed Obama wins US election, to become first black president US elects Obama as its first black president Stocks, dollar rise as Obama takes White House Obama's grandmother, family 'rock', dies on election eve World tunes in to see Obama win historic US election View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

Other News on Wednesday, 5 November 2008
Russia to station missiles near Poland | International |
U.S. strike kills wedding party goers: Afghan officials | International |
Karzai urges end to civilian casualties
Spain rejects Bin Laden son's asylum request: interior ministry
US News & World Report to focus on Web
African, Asian join the library of genomics
Rice tries to preserve Mideast peace talks | International |
Microsoft extends helping hand to Internet startups
Afghans allege civilians killed in US-led strike on wedding
IMF approves $16.5 billion loan for Ukraine | International |
Bush praises Obama, promises smooth handover
CNN 'beams up' virtual correspondent
Russian leader blasts US, vows to deploy missiles near EU
Thousands flee Congo clashes, Goma ceasefire holds | International |
UN climate chief seeks Obama input in December talks
New Caribbean tropical depression threatens Cuba | International |
Medvedev proposes longer presidential mandate
British PM Brown faces election test in Scotland | International |
Bush promises smooth transition to Obama
Mexico says minister plane crash appears accident | International |
Mexico air crash toll rises to 13
Obama carries heavy burden after landslide win
Bhutan gets young king to guide young democracy | International |
Air strikes killed about 40 civilians: Afghan president
Teens killed when man drives truck into China school | International |
Russian leader blasts US, vows to deploy missiles near EU
F1 champion Hamilton gets royal seal of approval
Dutch backpacker defies politics to invest in Iran | International |
UN climate chief seeks Obama input in December talks
Africa, and world, celebrate Obama victory
NZ regulator to inquire into mobile services
Google pulls out of search ad deal with Yahoo | Technology |
Obama victory sparks profit-taking in US, Europe
UBS sees wireless growth slowing in 2009 | Technology |
Taiwanese protest Chinese envoy
Hundreds protest Chinese envoy in Taiwan
Pity the Bluetooth headset this holiday season | Technology |
World hails Obama's victory, urges change of tack
Indian filmmaker B.R. Chopra dies
Palm shares sink on worries about capital | Technology |
Iraq: No hasty change in US policy with Obama win
India's FDI up 259 percent in September
Pakistan auction signals rise in discount rate
Asians uneasy over Obama trade stance
Russia's MICEX jumps 13 pct after long weekend
AMD lays off 500 people worldwide | Technology |
Sanyo's quarterly profit drops 67 percent
U.S. probes cable pricing ahead of switch to digital | Technology |
S.Korea to ease banks capital rules for SME lending
Gates urges rich countries not to cut health aid | Technology |
Video games to become UK's top entertainment form | Technology |
Jurassic Park author Michael Crichton dies at 66 | Entertainment |
Obama win makes Oprah weep, DiCaprio proud | Entertainment |
Winehouse's husband released from prison | Entertainment |
France wants bigger slice of Hollywood action
Michael J. Fox sees irony in playing paralyzed man | Entertainment |
Al Franken falls short in Senate bid | Entertainment |
Spears, Coldplay, Duffy vie for MTV Europe awards | Entertainment |
Bernie Mac, Isaac Hayes in Soul Men encore | Entertainment |
Deftones bassist in coma after car crash | Entertainment |
Finland rates Little House on Prairie adults-only | Entertainment |
Israel airstrike imperils Gaza truce with Hamas
Yahoo chief says Microsoft should buy his firm
Stocks slide as US election euphoria fades
Israel's Peres to attend meeting with Saudi king
Barack Obama expected to be first US "Tech President"
New king crowned in Bhutan
China to spend $146 bln on quake reconstruction | International |
'Impeach Obama' groups pop up on Facebook
Among Obama's next challenges: his own security
Suicide bomber kills 6, wounds 12 in Baghdad
Fresh U.S. air raid kills Afghan civilians: officials | International |
Black box found from Mexico crash that killed 14, including minister
Iraqi leaders confident of no hasty US withdrawal
IMF approves 16.4 bln dollar aid for Ukraine
Putin may return to Kremlin in '09: report | International |
Bhutan crowns young king to guide young democracy | International |
World hails Obama's victory, urges change of tack
China points finger at foreign milk products | International |
North Korea resumes normal service with Kim reports | International |
Skeptical Japanese voters long for their own Obama | International |
China official meets Taiwan president amid protests | International |
Two white supremacists charged in alleged Obama plot
SKorean agencies agree fund to stabilise stock market
Activision's Hero strikes right chord | Technology |
S.Korea c.bank under growing pressure to cut rates
Yahoo's Yang says Microsoft deal still best option | Technology |
US military deaths in Iraq war at 4,191
NZ dollar weakens as risk aversion dominates
'Radical' economic stimulus package in China soon: state media
Iran sees US choppers near its frontiers
SKorea rules out renegotiating trade pact with US
Loopt signs licensing deal with Qualcomm | Technology |
Taiwan dlr weakens on stocks, eyes Chen-Ma meeting
Seoul shares extend loss, down 8 percent
Activision posts better-than-expected earnings | Technology |
'Go East': China Inc. recruiting in gloomy London, New York
Korea Hot Stocks- Daum Communications down after Q3 earnings
S.Korean bonds rise, BOK rate decision eyed
Jurassic Park author Michael Crichton dies at 66 | Entertainment |
New Springsteen album due in January: report | Entertainment |
Battlestar Galactica items up for auction | Entertainment |
Ray Davies says Kinks writing new material | Entertainment |
AC/DC album leads pop chart for second week | Entertainment |
Jolly Black giant in Gulliver's Travels | Entertainment |
Australian film makers spark police emergency | Entertainment |
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