Panasonic's Q2 group net profit soars 56.9 pct

Panasonic Corp. announced Wednesday that its group net profit leapt 56.9 percent in the April-June quarter from a year ago, owing to a weaker yen supporting its exports and an uptick in its auto parts sector.

In the three months to June, the Osaka-based electronics giant' s group net profit came in at 59.52 billion yen (482 million U.S. dollars), although its operating profit dropped 7 percent to 76.56 billion yen on sales of 1.86 trillion yen, a marginal 0.3 percent increase from a year earlier.

Panasonic said its auto parts unit saw profits increase by 35 percent, which helped lift its overall figure for the quarter, as it streamlined production and benefited from the weaker yen.

For the current business year through to March 2016, Panasonic, whose products range from the popular Lumix line of digital cameras and Real Pro Ultra 3D massage chairs, to custom-made eco- smart detached houses, maintained its forecast for a 180 billion yen net profit on sales of 8 trillion yen, a 0.3 percent increase from a year earlier. Endi