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Daily News

Sanyo Chairman Says Earnings Exceeding Target
Dec 2, 2003
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Sanyo Electric Co. has performed better than its earnings estimates for the current fiscal year and expects to achieve its full-year target, the company's chairman said.

The earnings "have been progressing better than our original plan" through November, Satoshi Iue, Sanyo chairman and CEO, said at a year-end party for the press.

The Japanese consumer electronics maker hasn't changed its initial earnings forecasts released April.

For this fiscal year ending March 2004, it projects a 29-percent increase in group operating profit to Y101 billion on a 12-percent increase in group revenue to Y2.45 trillion.

Company President Yukinori Kuwano said Sanyo is targeting a double-digit percentage revenue growth in the second half, which began October.

Sanyo's group revenue jumped 17.8 percent in the first half ended September due to brisk sales of digital still cameras, camera-equipped phone handsets, and rechargeable batteries to power these digital products. (Dow Jones)

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