6 Major Japan Electronics Makers Suffer Net Profit Falls

Economy

Tokyo, Nov. 1 (Jiji Press)--Six of seven major Japanese electronics makers suffered year-on-year drops in group net profits in April-September, according to their earnings reports released by Friday.

Net profit slid 1.9 pct to 189.2 billion yen at Hitachi Ltd. <6501>, 14.9 pct to 340 billion yen at Sony Corp. <6758>, 11.2 pct to 100.9 billion yen at Panasonic Corp. <6752>, 10.8 pct to 91.2 billion yen at Mitsubishi Electric Corp. <6503>, 21.5 pct to 63.6 billion yen at Fujitsu Ltd. <6702> and 33.1 pct to 27.3 billion yen at Sharp Corp. <6753>.

Five of the six, excluding Sony, also reported operating profit falls for the first half of fiscal 2019 due to impacts from trade friction between the United States and China, among other factors.

At Sony, operating profit rose 17.3 pct to 509.8 billion yen, the highest level for the first-half period, backed by robust sales of image sensors.

NEC Corp. <6701> saw its net profit grow by 3.2-fold to 29.1 billion yen and operating profit by 3.4-fold to 46.8 billion yen, thanks to job cuts and other structural reform measures implemented in fiscal 2018.

[Copyright The Jiji Press, Ltd.]

Jiji Press