Panasonic posts profit of 179.4 billion yen

Panasonic Corp. announced a 49% gain for fiscal year 2014/15. Profit in operation increased by 25% to 381.9 billion yen on sales of 7.71 trillion yen, a 0.3% drop. The company has shrunk the TV and cellphone business and shifted its weight to housing and automobile-related businesses. The company plans to spend 1 trillion yen on strategic investment, targeting a sales of 10 trillion yen by March 2019, its 100th anniversary. For the product segments, the company targets annual sales of 2.1 trillion yen for automobiles, 2.3 trillion yen for home appliance business and 2 trillion yen for its eco solution business, which handles housing materials, eco-friendly lighting and solar-panels to generate electricity.