Panasonic's Q1 gets boost from motoring sector

Tokyo

PANASONIC on Monday reported quarterly gains in profits and sales for its first quarter, thanks to a strong performance in its vehicles-related sector, confirming that the Japanese electronics mainstay is on course for recovery.

The Osaka-based company is best known abroad for electronics, but has shifted to other sectors, including energy and a vehicles division that makes products from electrical components to navigation systems.