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Matsushita Sees Q1 Profit Increase
Jul 31, 2006
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Matsushita Electric Industrial Co., Ltd. (Osaka, Japan) reported consolidated group sales increased 4 percent for the first quarter of fiscal 2007, to 2,136.9 billion yen (approx U.S. $18.6 billion), from 2,048.2 billion yen in the same 3-month period a year ago.

MEI, best known for its Panasonic brand of consumer products, announced consolidated financial results for the first quarter, ended June 30, 2006, of the current fiscal year ending March 31, 2007 (fiscal 2007).

MEI said some of the increase came from sales gains in digital audiovisual products, especially in video products, in Japan and overseas markets.

Consolidated group total domestic sales were 1,061.9 billion yen (approx. $9.23 billion), almost unchanged from a year ago. Overseas sales increased 9 percent to 1,075.0 billion yen ($9.35 billion), stemming from strong sales in all regions and, in particular, a sharp sales increase in Europe driven primarily by flat panel TVs.

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