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Drumbeat: Ad Buzzaar
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Wednesday, August 26, 1998
Matsushita Elec reports bruising Q1
REUTERS
Tokyo, Aug 25: Hit by a protracted slump in Japan and economic woes in Asia, Japanese electronics giant Matsushita Electric Industrial Co said on Tuesday it had a bruising first quarter amid one of toughest years for the industry.Matsushita said that its group operating profit plunged 55 per cent to 33.1 billion yen ($229 million) for the April to June quarter, despite a lift from a weaker yen, which boosts competitiveness of Japanese exports. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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