Sanyo Ups Past Earnings Due to Reassessed Assets May 18, 2004

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Sanyo Electric Co. said it earned 13.4 billion yen (approx. U.S. $117 million) in group net profit, versus an earlier stated 2.86 billion yen, in the business year ended March 31, 2004 after reinterpreting the value of some of its assets.

Sanyo also boosted last year's group pre-tax profit in the earnings restatement and narrowed the consolidated net and pre-tax losses it made in the 2002-2003 business year. (Reuters)

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