【Annual Report】Panasonic Returns to Profitability in FY2013 with Significant Growth in Lighting Business

On April 28, Japanese electronics manufacturer Panasonic released its financial report on the 28th, showing that for the fiscal year ending March 31, 2014 (FY2013), the company returned to profitability for the first time in three years, achieving a net profit of 120.44 billion yen (approximately USD 1.18 billion).

For FY2013 (April 2013 - March 2014), Panasonic achieved revenue of approximately 7.74 trillion yen (approximately RMB 472.9 billion), a year-on-year increase of 5.9%; operating profit of 305.114 billion yen (approximately RMB 18.652 billion), a year-on-year increase of 89.6%.

Panasonic also forecast in its FY2013 annual report that for FY2014 ending March 2015, the company expects to achieve revenue of 7.75 trillion yen, operating profit of 310 billion yen, and net profit of 140 billion yen.

The financial report shows that Panasonic's lighting business achieved sales of 322.5 billion yen in fiscal year 2013, a year-over-year increase of 107%.