Matsushita Electric Industrial Co. said Friday it had revised upward its full-year operating profit forecast by 7 percent to 300 billion yen, in stark contrast to Sony and Toshiba, which have cut their outlooks.
Matsushita, known for the Panasonic brand, said strong sales of its plasma-display-panel TVs and washing machines as well as cost-cutting measures were expected to help post better-than-expected earnings for the year ending in March.
In the October-December results announced the same day, its operating profit -- profit from regular business activities -- jumped 24 percent from a year earlier to 88.25 billion yen, on revenue of 2.3 trillion yen, up 13 percent.
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