Japan's Sanyo Electric recorded sales in the April to September period that were 4 percent ahead of its own target on the back of strong demand for its solar cells and rechargeable batteries, it said Wednesday.
The better-than-predicted results come as many of its competitors in the Japanese electronics sector are reporting lower sales because of weak demand for products and the strong Japanese yen. Sanyo said sales in the six months were ¥1 trillion (US$10 billion), which is also 3 percent ahead of last year.
The company hasn't been able to totally escape the downturn in the industry and costs associated with restructuring of its mobile phone business pushed net profit down a few percent from its previous forecast to ¥33 billion. However that's still more than double what it managed to achive last year.
Sanyo is the world's largest manufacturer of rechargable batteries and has made big bets on green-energy technology such as solar cells and solar modules.
During the six months sales of batteries rose 20 percent and those of solar systems jumped 37 percent. Together the two businesses made up a quarter of all sales during the period. In contrast Sanyo saw double-digit percentage drops in sales in its air conditioner, semiconductor and optical pickup businesses.