Panasonic reported that it posted a 21% year-on-year gain in operating profit for the first half of the fiscal year, ending on September 20, 2014, to 177 billion Yen on a total revenue of 3.723 trillion Yen, almost even from the previous year’s revenue of 3.706 trillion Yen. Net profit fell by 52% to 80.9 billion Yen from 169.3 billion Yen from a year earlier.
The company has successfully shifted their business strategy to Automotive and Industrial Systems, whose sales rose by 2% to 1.378 trillion Yen. Home Appliance sales rose by 1% to 916 billion Yen with a 141% gain in operation, thanks to profitable device products such as motors and Eco Solutions centering on solar panels. Housing systems posted a 790 billion Yen sale, a 2% gain with operating profit of 41.8 billion Yen, up by 6%. The AVC Networks division secured operating profit of 3.9 billion Yen from a loss of 2.4 billion a year earlier; their sales dropped by 3% to 531.6 billion Yen because of withdrawal from the plasma panel business and slimming down of digital camera models.
The company revised profits in operation and net profit to 350 billion Yen and 175 billion Yen respectively. The total revenue is expected to be level at 7.750 trillion Yen.