• Kyodo

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Panasonic Corp. on Friday said group net profit fell 63.5 percent in the April-June quarter to ¥21.74 billion ($210 million) on year, hit by the strong yen and sluggish sales of solar power systems.

Operating profit fell 12.6 percent to ¥66.93 billion in the first quarter on sales of ¥1.75 trillion, down 5.9 percent, the electronics giant said.

For the fiscal year ending next March, Panasonic retained its earnings forecast of ¥145 billion in group net profit.

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