Sanyo Electric to push back profit target by one year

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OSAKA, May 10 Kyodo -
Sanyo Electric Co. has decided to postpone by one year its goal of achieving 90
billion yen in consolidated operating profit in the face of the global economic
slump, a company source said Sunday.
In its three-year management plan for the business years 2008 to 2010, Sanyo
Electric aimed to make a profit each year of 50 billion yen, 70 billion yen and
90-100 billion yen, respectively, but the current recession has caused the
company to revise the plan, according to the source.
Sanyo will formally announce the revision on Thursday, the source said.
The company, which will become a subsidiary of Panasonic Corp., expects to
boost its profits by expanding sales of rechargeable batteries and solar cells
in the mid-term management plan.
==Kyodo