Panasonic sees spending $2.9 billion on restructuring this fiscal year and next

TOKYO Thu Mar 27, 2014 4:56am EDT

People are reflected in a sign at Panasonic Center Tokyo in Tokyo March 12, 2014. REUTERS/Toru Hanai

People are reflected in a sign at Panasonic Center Tokyo in Tokyo March 12, 2014.

Credit: Reuters/Toru Hanai

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TOKYO (Reuters) - Panasonic Corp said on Thursday that it would spend a total of more than 300 billion yen ($2.93 billion) on restructuring this fiscal year ending March 31 and in the following year.

The company also said it aims for an operating profit of 310 billion yen for the next financial year, compared with a forecast of 270 billion yen for the current fiscal year.

(Reporting by Reiji Murai; Writing by Dominic Lau)

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