Japanese electronics company Panasonic Corp has cut its forecast for full-year net profit citing the impact of a strong currency and weaker earnings from sales of its solar energy systems for home use.
Two people with knowledge of the matter said that the Japanese automaker wants to sell its 51 percent stake in Automotive Energy Supply Corporation, which makes lithium-ion batteries for electric vehicles. The company is jointly owned by NEC Corp.
Musk's comments during a media open house at Tesla's sprawling, battery "gigafactory" outside Reno, Nevada, come at a time when the automaker is losing money and dealing with investigations into a crash that killed a driver using its Autopilot driving-assist software.
Panasonic agreed to buy the stake from Clayton Dubilier & Rice, said the people, who declined to be identified as they were not authorised to speak with media on the matter.
Panasonic's April-June operating profit of 64.2 billion yen topped the average expectation of 49.5 billion yen from three analysts surveyed
Within months of Jetter's arrival, IBM Japan fired a group of workers deemed to be underperforming in the kind of restructuring common in many Western countries but rare in Japan, where the most sought-after jobs have carried a promise of lifetime employment.
Japan's Panasonic Corp said it will boost domestic production of washing machines and other appliances to half of its overall output from about a third should the yen weaken to 105 to the dollar, reversing a strategy of shifting production offshore
Panasonic Corp forecast its operating profit will more than triple in the year to March 31 as it steps back from struggling operations in TVs and other consumer gadgets in favour of selling machinery, components and electronic equipment to other businesses.
Japanese electronics major Panasonic Corp today said it has set a sales target of USD 3.6 billion in India by 2014-15 and will invest Rs 1,500 crore in marketing and advertising over the next two years.
Japan's Panasonic Corp said it will spend 250 billion yen (USD 2.7 billion) over the next two years on a fresh round of restructuring to revive the sprawling electronics giant, but did not indicate if that spending would cover any possible job cuts.
LG Electronics Inc fell short of consensus forecasts in quarterly earnings on Wednesday, with profits in its TV division tumbling to around one tenth of year-earlier levels as the world's No.2 TV maker bumped up promotional spending in the year-end holiday season.
Panasonic Corp's answer to the brutal onslaught on its TV sales may be in a product the Japanese firm launched 17 years ago and which is a must-have for US police cars.
Sony Corp is likely to say it returned to an operating profit for July-September after it sold a chemicals business, but investors still aren't sure a consumer electronics revamp will deliver the profit growth the group seeks.
Panasonic Corp said it will lose almost USD10 billion this business year as it cleans house of poorly performing operations, writing down billions of dollars of goodwill and assets in its mobile and energy units while its new boss readies for a fresh bout of restructuring.
Sony Corp CEO Kazuo Hirai has spent $1.8 billion in the past three months snapping up an assortment of businesses such as medical equipment and cloud gaming,
Panasonic Corp is making final arrangements to provide up to 50 billion yen in capital to scandal-hit Olympus Corp, Kyodo news agency reported on Wednesday, a move that will make Panasonic the company's top shareholder.
Japan's Panasonic Corp plans to nearly halve the number of workers at its headquarters through early retirement and transfers to subsidiaries, the Nikkei business daily reported on Tuesday, sending shares in the electronics group up 3%.
Two of the worlds biggest television manufacturers, Sony and Samsung have decided to set price minimums ...
Japan's Nikkei share average fell to a 3-1/2 month closing low on Tuesday, weighed down by exporters with exposure to Europe after Greece struggled to form a coalition government, increasing fears that it may have to leave the euro zone.
Panasonic Corp forecast on Friday a rebound in operating profit in the current financial year as cost cutting boosts profitability and trims losses in its TV unit.
Japan's Nikkei average broke a seven-session losing streak on Thursday, boosted by big programme buying by hedge funds, which pushed the index to above 9,500, triggering short covering and accelerating the move higher, market participants said.
Sony Corp said it is to cut around 10,000 jobs - 6% of its global workforce - as new CEO Kazuo Hirai moves to reduce costs and staunch huge losses at the Japanese electronics giant.
Shares of Sony Corp, the inventor of personal music players, slid more than 7% on Wednesday after the company more than doubled its annual loss forecast, highlighting the plight of a Japanese TV industry that once dominated living rooms around the world.
Japan's Nikkei share average dropped 0.8% on Wednesday to mark its seventh consecutive session of losses as fresh concerns about Spanish and Italian finances and slowing global growth sapped investor appetite.
Japan's Fujifilm Holdings is watching developments at Olympus Corp, but it is too early to say if it will invest in the rival endoscope maker, a senior executive told Reuters in an interview on Monday.