Affected by factors such as the depreciation of the yen and the good performance of overseas operations, net profit of the top seven electrical manufacturers in Japan for the first three quarters of fiscal 2017 (April 1st to December 31st 2017) increased year-on-year, except for Fujitsu's sales. After the drop, sales of the remaining six companies have increased.
Matsushita Corporation released its third-quarter financial report on the 5th. At this point, the seven major electronics manufacturers reported their financial results in the third quarter. The report shows that Panasonic's sales for the first three quarters totaled 591.2 billion yen (US$108.81 for one US dollar), an increase of 9% year-on-year; net profit was 1.2 billion yen, an increase of 1.3%.
Sony, Mitsubishi Electric and Hitachi Ltd. both hit their highest net profit in the same period in the first three quarters. Sony achieved net profit of 507.62 billion yen for the first three quarters, 11 times more than the 45.639 billion yen for the same period of last year; Mitsubishi Electric's net profit for the first three quarters reached 193.1 billion yen, a year-on-year increase of 43%; Hitachi Ltd. In the first three quarters, net profit was 258.582 billion yen, a year-on-year increase of 35.2%.
According to the financial reports issued by the three companies, their sales in the first three quarters also achieved year-on-year growth. Sony's sales reached 659.29 billion yen, a year-on-year increase of 15.7%; Mitsubishi Electric's 3111.5 billion yen, an increase of 6%; Hitachi Ltd. was 67.4 billion yen, an increase of 2.4%.
Sharp is still continuing its rebuilding efforts under Hon Hai Precision Industry. In the first three quarters, Sharp's LCD and home appliance business developed smoothly, with sales up 22.7% year-on-year to 1,839.4 billion yen and net profit 55.3 billion yen.
In the first three quarters of the year, Nippon Electric had sales of approximately 1971300 million yen, an increase of 9.9% year-on-year, and net profit of approximately 17.6 billion yen, which was much better than the 2.8 billion deficit in the same period of last fiscal year.
Fujitsu's slump in system engineering business resulted in a slight decrease in sales of 0.1% in the first three quarters and a sharp drop of 29.3% in operating profit. However, it still received 55.4 billion yen due to the sale of its shares in Fuji Electric. Net profit increased 71.9% year-on-year.
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