Sanyo Electric says profit rose

PUBLISHED : Saturday, 15 July, 1995, 12:00am
UPDATED : Saturday, 15 July, 1995, 12:00am

SANYO Electric says its consolidated pre-tax profit rose 116.2 per cent from a year earlier to 16.8 billion yen (about HK$1.47 billion) in the six months to May.

Sanyo, a leading consumer electronics maker, said its consolidated sales rose 7.3 per cent to 823.5 billion yen in the same period.

The company attributed the sharp earnings increase to strong sales of semi-conductors and batteries at home and abroad.

For the year to November 1995, the company forecast a group pre-tax profit of 35 billion yen on consolidated sales of 1.72 trillion yen, a Sanyo official said yesterday.

Sanyo said it would place increased emphasis on semi-conductors, batteries and compressors to improve its performance amid a severe business climate.

The company said it would continue to promote overseas production and imports of finished goods and parts to Japan.