Japanese giants in electronics post gains in net
Article Abstract:
Japan electronic industry giants Sony Corp, Toshiba Corp, Hitachi Ltd and Matsushita Electric Industrial Company Ltd all posted gains for fiscal year ended Mar 31, 1990. Sony's pretax profit rose 37 percent to $1.5 billion. Net profit rose 42 percent to $1.09 billion from $47.7 million in 1989. Revenues rose 34 percent and sales rose 19 percent. Sony expects sales growth to slow to 20 percent in 1990. Toshiba reported a 15 percent increase in pretax profit to $1.78 billion from $1.55 billion in the 1988. Sales rose 12 percent and the company expects continued growth in 1990. Hitachi's pretax earnings rose 7.9 percent to $3.5 billion from $3.24 billion in 1988 and sales rose 11 percent. Matsushita Electric's saw a 7.9 percent pretax profit increase to $3.77 billion from $3.49 billion in 1988 and predicts a 6.6 percent growth in net income and sales in 1990.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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Sony's earnings plummeted 33% in its 2nd period; concern sees further drops as it acknowledges end to year of fast growth
Article Abstract:
Sony Corp's profits dropped 33 percent for 2nd qtr FY 1992 ending Sep 30, 1991, marking the end of the electronics vendor's years of fast growth. A drop in earnings for FY 1992 ending Mar 31, 1992 is also anticipated. Expectations for FY 1993 are low. Sony blames the poor results on the decline of the dollar against the yen, which decreased contributions, paid in yen, for Sony's US operations. Pretax earnings for the quarter dropped from 58.07 billion yen in FY 1991 to 39.14 billion yen or US $301 million for the current period. Net income declined 21 percent from 27.41 billion yen to 21.70 billion yen. Sales rose five percent, to 949.13 billion yen. In FY 1993, Sony expects operating earnings to drop 23 percent from 297 billion yen to 230 billion yen. Net income is estimated to fall 19 percent from 116.9 billion yen to 95 billion yen.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1991
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NEC says loss to be wider than expected; figure surprises analysts, reflects ills of Japan's electronics companies
Article Abstract:
NEC Corp says it expects to lose 43 billion yen ($364.5 million) in FY 1993, ending Mar 31, or nearly five times as much as the 9 billion yen loss the company had predicted in Nov 1992. The company now expects to post sales of 3.62 trillion yen for FY 1993, down from the 3.78-trillion-yen prediction of November. An NEC spokesperson blames the revision on poor sales and the lethargic Japanese economy. In FY 1992, NEC, Japan's biggest maker of microcomputers and semiconductors, reported net income of 15.28 billion yen on 3.77 trillion in sales. The revision, which surprises analysts, underscores the troubles of Japan's electronics industry. Fujitsu Ltd and Toshiba Corp may also fail to meet expectations. Analysts disagree on whether a recovery for the industry is due anytime soon.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
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