Panasonic quarterly net profit soars more than 50%

[TOKYO] Japanese electronics giant Panasonic said Wednesday that its net profit soared 57 per cent from a year ago, mainly thanks to a tax accounting change.

The Osaka-based firm's earnings for the three months to June surged to 59.52 billion yen (S$658 million), while operating profit edged down seven percent to 76.56 billion yen.

Sales were almost flat at 1.86 trillion yen.

AFP