Tokyo, February 4, 2010 – SANYO Electric Co., Ltd. (SANYO) announces its consolidated financial results for the nine months up to the third quarter of fiscal year (FY) 2010 (April 1, 2009 to December 31, 2009).

　The nine month period from April 1, 2009 to December 31, 2009 ended with consolidated net sales of 1,211.6 billion yen, a decrease of 15.5% over the same period last year.
　For the consumer business segment, sales decreased 12.7% over the same period last year to 473.5 billion yen, primarily due to sluggish sales of digital cameras and projectors despite success in the thriving navigation systems business. The commercial business segment experienced a 19.5% sales decrease over the same period last year to end at 156.6 billion yen, attributed mainly to the decreased sales of commercial air conditioning units, kitchen equipment, and food showcases. For the component business segment, which includes such products as rechargeable batteries, photovoltaic systems, semiconductors and electronic components, sales decreased 15.8% over the same period last year to 563.5 billion yen due to the falling prices of lithium-ion batteries, and sluggish sales of semiconductors and electronic components, although there were strong sales in photovoltaic systems in Japan. Semiconductors and electronic components showed some recovery in the third quarter (from October 1, 2009 to December 31, 2009), with the sales of optical pickups doubling over the same period last year.
　Sales in Japan decreased 8.5% over the same period last year to 483.9 billion yen, and overseas sales also decreased 19.6% over the same period last year to 727.7 billion yen.

　Operating income decreased 35.4% (10.9 billion yen) to 19.9 billion yen over the same period last year. In addition to the reduction in sales, the deficit balance of 9.0 billion yen in the first quarter has affected the results. Losses from continuing operations before taxes increased by 31.0 billion yen over the same period last year to end at 33.5 billion yen. This was primarily due to additional expenses related to the tender offer by Panasonic for SANYO shares, washer/dryer recalls and TV recalls in addition to the additional structural reforms and losses from sold assets. Finally, the net losses attributable to SANYO totaled 44.7 billion yen, a deterioration of 63.0 billion yen from the same period which included a 30.8 billion yen profit from the sale of the mobile phone business last year.

　Koichi Maeda, Executive Vice President of SANYO, commented, “SANYO became a member of Panasonic Group last December.” He added, “As a member of the Panasonic Group, we will push forward in our energy and environment business areas, focusing on such products and technologies as photovoltaic systems and lithium-ion batteries, which will contribute to the Group’s image as it accomplishes the goal to become the No.1 electronics company in the world, focusing on environmental innovation.”
The forecasts for FY 2010 ending March 2010 are as below, changed from the previous forecast announced on October 29, 2009.

　All statements in this report, other than past factual matters, are future results projected in accordance with SANYO’s present plans, outlooks and strategies, based on management judgments in light of information currently available. Therefore, SANYO cannot guarantee the accuracy and reliability of this information, and requests that you should not rely on this information alone. There are various factors influencing business forecasts such as business risks and uncertainties. The principal factors that may cause changes in the forecasts includes: 1) large changes in economic conditions and capital markets, as well as consumption changes in businesses SANYO engages in, 2) the effects on SANYO’s international business activities of fluctuation in exchange rates between the yen and the U.S dollar, as well as the yen and other currencies, 3) various trade restrictions in the markets of individual countries, and 4) SANYO’s ability to provide new technologies, new products and new services amid rapid technological innovation, market competition and price competition. However, it should be noted that factors affecting SANYO’s performance are not limited to those mentioned above; there are other factors that pose latent risks and uncertainties.


Further details regarding the results can be found in the following PDF link: