Panasonic returns to black in April-June, 1st time in 2 years

Economy

Panasonic Corp. reported Thursday a net profit of 76.5 billion yen ($697 million) in the April-June quarter, returning to the black for the first time in two years on brisk home appliance sales. The figure marked a turnaround in the first quarter of fiscal 2021 from a net loss of 9.8 billion yen a year earlier due to dampened sales in automobile, aircraft and housing businesses amid the coronavirus pandemic. In the reporting period, sales of home appliances such as air conditioners increased as people spent more time at home to help prevent the spread of the novel coronavirus. Sales of in-vehi...

Kyodo News

Kyodo News