Sanyo 07/08 profit to jump 40%
Sanyo Electric Co will likely post a jump of around 40% in operating profit for 2007/08, beating its forecast by about 27%.
Sanyo said in a statement it had not released the figures and would announce its earnings later in the day.
The report failed to cheer investors, and its shares fell 1.7% to ¥282, in line with the broader market.
Sanyo has been restructuring with the help of shareholder Goldman Sachs after its bottom line was hit hard by hefty costs to cut thousands of jobs, steep price falls and damage from an earthquake to its microchip plant.
Net profit will also likely beat the company's forecast of ¥20 billion, which would be the first profit in four years, on the back of strong sales of batteries and digital cameras, the paper said.
The sale of its loss-making mobile phone business had also contributed, it said.
Sanyo has been focusing its resources on solar cells and rechargeable batteries, its cash cow operations, allocating 70% of its planned capital spending in the next three years to the battery business and electronic parts. (Reuters)
ADVERTISEMENT
ÁKK Cutting Premiums on PMÁP
Parl't Approves Amendments to Legislation on Judiciary
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
