Panasonic improves net profit forecast by 14%

Japanese electronics maker Panasonic has raised its net profit forecast for this fiscal year, Report informs via foreign media.

The Japanese company raised its 210 billion yen net profit forecast established in May by 30 billion yen, or 14.3 percent, to 240 billion yen ($2.11 billion).

Panasonic's sales are expected to increase by 9% to 7.3 trillion yen ($64.2 billion) compared to last year, and operating profit is expected to increase by 43% to 370 billion yen ($3.25 billion).

Panasonic's net profit last year was 165.08 billion yen ($1.51 billion).