TOKYO (Reuters) - Panasonic <6752.T> December 28, consolidated net income for the March 2016 period was announced to be a 180 billion yen, an increase of 0.3 percent year-on-year. Structural reform is round, to achieve sales growth in the tow of the automotive and housing business. M & A (mergers and acquisitions) and capital investment expansion. It cuts the rudder to growth priority from the management of profit-oriented.
Sales forecast for the full year 8 trillion yen, up 3.7 percent year-on-year, operating income expected 430 billion yen, an increase of 12.6 percent. According to a survey by Thomson Reuters, analysts nine expected average at 411.9 billion yen, the company expected more than this.
Sales, in addition to the automotive and industrial business, we extend overseas housing business. "Strategic investment (new M & A, research and development, advertising investment) one trillion yen" I devote this term 200 billion yen. Normal capital investment to expand to 285 billion yen (year-on-year to 226.7 billion yen).
In addition, consolidated operating profit margin planning 5.4%. Such as air-conditioning and a secondary battery, we aim to achieve by intensively improve the business operating profit margin is less than 5%. Restructuring charges of the current fiscal year to devote to overseas bases restructuring, but that it be compressed to 40 billion yen (year-on-year to 94.9 billion yen), also increased net income.
Although net income remains 0.3% increase over the previous year, March 15 period, because it was re-recorded a deferred tax asset 130.2 billion yen from the prospect of future performance expansion, to 179.4 billion yen, an increase of 49% I jumped. Excluding this push-up amount, expected to increase the amount of net income of the current fiscal year of more than 130 billion yen.
<Is ahead of schedule achieve operating profit margin of 5%>
Track record of March 15 period, 7 trillion 715 billion yen of sales down 0.3% over the previous year, operating income was landing at 381.9 billion yen, an increase of 25.2 percent. Sales in the withdrawal and divestitures was reduced, but I was thoroughly reduce structural reform effects and fixed costs.
In particular the previous fiscal year, to give priority to the improvement of poor business, compressed television, semiconductor, the deficit of the liquid crystal panel. As a result, the operating margin was achieved 5 percent goal of medium-term management plan of three years up to March 16 period one year ahead of schedule.
Press conference was Tsuga Kazuhiro president stressed in that you have ahead of schedule achieve the operating profit rate of 5% and "turn off the rudder from profit priority to growth priority", towards the goal of sales of 10 trillion yen in March 2019 period He said, "to the start of the year" Te.
<New investment in Japan priority in the weak yen>
Assumption of the current fiscal year of the exchange rate of $ 115 yen (previous year 110 yen), the euro 135 yen (up 139 yen), RMB 19.5 yen (up 17.74 yen). Weaker yen progress While a plus in automotive business and video equipment, "almost neutral impact on the earnings forecast" from working in minus the white goods and housing business that (Kawai Hideaki Executive Director).
Tsuga President, in response to the weaker yen progression "new investment, first, believe or not be in Japan. Business to be able to export in the intermediate goods or more products is considered to be in favor of the capital investment in Japan," it said .
The same day, Panasonic, from March 2017 year-end, the International Accounting Standards the (IFRS) was announced to any application. 16 April - apply the US GAAP up to this until December 31. Steering based on unified rules globally, as well as improve the accuracy of business management, and advances the management of cash flow-oriented.
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(Murai Ordinance two EDIT: Tanaka Shiho)
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