Panasonic Making Comeback as Profits Posted for 2014

Panasonic makes Lumix cameras
Panasonic makes Lumix cameras

Japanese-based electronics company Panasonic posted a profit this year after two years of losses, the company reported. The turnaround is a response to the weakening of the yen and company restructuring, both of which helped with a steady and gradual recovery. A 16 percent increase in gains is expected this coming year.

Panasonic is not the only Japanese electronics company that has been having difficulties showing profits. Competition with Apple Inc and Korea-based Samsung has forced prices of consumer electronics and gadgets down, furthering Panasonic’s troubles.

Panasonic, whose headquarters I in Osaka, is the maker of Lumix cameras and Evolta batteries. The company reported a profit of 120.4 billion yen ($1.2 billion) for the fiscal year ending in March 2014. This is a large improvement over the previous year when the company posted a $1.4 billion loss. During the fiscal year which ended in March 2012 Panasonic posted the largest loss ever for a Japanese company, $7.72 billion. There is a projection of an additional $1.4 billion net profit for the coming fiscal year ending in March 2015.

James Cannon

About James Cannon

James Cannon is an experienced hedge fund analyst. He has served on the advisory boards for various different Fortune 500 companies as well as serving as an adjunct professor of finance. James Cannon has written for a variety of Financial Magazines both on and off line. Contact James at james[at]businessdistrict.com