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Business

Panasonic makes comeback with 67% surge in net profit

Automotive products lead Japanese company toward goals for its centennial

Panasonic Chief Financial Officer Hirokazu Umeda announces April-June results on Monday.

OSAKA -- Panasonic marked an impressive 67% jump on the year in net profit to 48.7 billion yen ($441 million) in April-June, recovering from a dramatic plunge a year earlier caused by the Kumamoto earthquakes and China's economic slowdown.

"We consider this the year to achieve growth in both revenue and profit," Chief Financial Officer Hirokazu Umeda said at a news conference Friday. "We are off to a good start."

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