Japan's major electronics makers have reported sharply improved earnings, although some continue to lag behind others. The turnaround for the firms, many of which suffered huge losses and were forced to introduce massive cuts to their workforce in recent years, may partly be aided by the steep fall in the value of the yen against the dollar since 2012.
But the turnaround also is attributed to the outcome of their efforts to pull out from loss-making businesses to concentrate on growth segments. Many of these companies are moving to cut back on their consumer product lines as they shift operations toward the demands of corporate customers.
According to a tally by Nomura Research Institute, six major electronics makers — Hitachi, Toshiba, Mitsubishi Electric, Panasonic, Sony and Sharp — reported a 54.3 percent rise in combined operating profits on a 3.4 percent increase in sales for the April-June period over a year ago. They also expect increased sales and profits through the business year 2015. Hitachi and Mitsubishi Electric have revised upward their profit forecasts for the April-September period.