Sanyo Reports Higher 1st-Half Sales, Income

By Steve Smith -- TWICE, 11/17/2008

TOKYO — Sanyo Electric, as it confirmed its interest in being acquired by Panasonic (see story on p. 1), reported higher consolidated net sales and net income for its first half, ended Sept. 30.

Seiichiro Sano, president of Sanyo, confirmed that the company is "negotiating a deal with another company regarding its preferred stocks."

Net sales were $10.1 billion, an increase of 2.5 percent over last year's fiscal first half. Domestic net sales were $3.6 billion, up 1.2 percent, and overseas net sales were up 3.3 percent to $6.5 billion.

Net income was $328.4 million for the first half, almost double from last year, but operating income was down 11.3 percent to $241.8 million.