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TV firm Panasonic returns to profit
TV maker Panasonic kept its profit forecast for the full fiscal year unchanged (AP)
Panasonic has said that it returned to the black in the April-June quarter, logging a net profit of 12.8 billion yen (£104 million) mainly on cost-cutting.
The consumer electronics giant had a net loss of 30.4 billion yen (£247 million) in the same quarter a year earlier.
The Osaka-based maker of Viera TVs and Lumix digital cameras said it managed to earn money despite a 6% decline in fiscal first- quarter sales to 1.815 trillion yen (£14.7 billion) amid weak demand in its Japanese home market.
Panasonic kept its profit forecast for the full fiscal year to March 2013 unchanged at 50 billion yen (£406 million).