Panasonic Q3 financial report: Sales and profit decreased, forecast cut.

Today Panasonic published the Q3 financial report.

Q3 was a bad quarter for Panasonic. Sales and profit decreased and forecast for the whole company full-year operating profit was cut by 9.4% to 290 billion yen from 320 billion yen. The company cited heavy restructuring expenses and a “push to reform its group” as the primary reasons for the downward revision.

There is zero info about the camera business. So we don’t know how Lumix sales are going :(