Panasonic sees spending $2.9 billion on restructuring this fiscal year and next

Reuters News
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Posted: Mar 27, 2014 4:56 AM

TOKYO (Reuters) - Panasonic Corp said on Thursday that it would spend a total of more than 300 billion yen ($2.93 billion) on restructuring this fiscal year ending March 31 and in the following year.

The company also said it aims for an operating profit of 310 billion yen for the next financial year, compared with a forecast of 270 billion yen for the current fiscal year.

(Reporting by Reiji Murai; Writing by Dominic Lau)