Seven Big Japanese Electronics Makers Log Sales Growth
Seven of eight major electronics makers in Japan posted year-on-year increases in group sales in April-June thanks to robust overseas sales backed by a weaker yen, according to their earnings reports released last week. Hitachi alone suffered a sales drop in the first quarter of fiscal 2013.
On the operating balance, Fujitsu and NEC suffered losses. Hitachi and Mitsubishi Electric saw their operating profits fall. Three of the four other firms – Panasonic, Sony, and Toshiba – enjoyed growth in their operating profits. Sharp returned to the black.
Fujitsu and NEC faced poor sales of their smartphones, which were left out of major mobile phone carrier NTT Docomo’s sales strategy focusing on models made by Sony and South Korea’s Samsung. NEC has decided to pull the plug on smartphone development and production.
Panasonic enjoyed a hefty increase in operating profit thanks to restructuring efforts and brisk sales of solar cells. Sharp’s turnaround resulted from its robust solar cell and liquid crystal display operations and cuts in personnel and other fixed costs.
Copyright (C) 2013 LexisNexis, a division of Reed Elsevier Inc. All Rights Reserved.
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