Profit for Panasonic

Panasonic has returned to profit after deep losses for the past two fiscal years, as a weak yen and restructuring efforts helped a gradual recovery.

Like other Japanese electronics companies, Panasonic has been struggling amid intense competition from Apple and South Korea’s Samsung.

It reported 120.4 billion yen (£698 million) in profit for the fiscal year through to March 2014, a reversal from a 754.3 billion yen (£4.3 billion) loss in 2013.