Newly released financial results show that Japanese electronics giant SANYO has bounced back into profitability following its radical refocus on environmental and energy technology. This week, SANYO Electric Co., Ltd. (SANYO) announces its consolidated results for the third quarter of fiscal year (FY) 2007 (Oct.1, 2007 to Dec. 31, 2007). The consolidated sales total rose for the third quarter 1.4% to 597.2 billion yen, compared to the same period last year. The European market enjoyed a 35% increase in sales and despite a sharp rise in raw material costs overall operating profit was up an impressive 74%.
These achievements follow SANYO adopting the 'Think GAIA for life and the earth' corporate vision in 2005 which commits the company to using global resources and skills to develop solutions for sustainable coexistence on Earth.
In a statement issued today SANYO Air Conditioners Europe's president, Masafumi Yoda, explains: "After a few difficult years SANYO is now back on track as can be seen by our positive financial results. At SANYO Air Conditioners Europe we have had a particularly successful year which is being translated into considerable investment in the company since it is seen as a key growth sector for SANYO."
Building on SANYO's recent profit results and the 'Think GAIA' vision SANYO Electric President Seiichiro Sano has also announced a new Mid Term Business Strategy for the three years from FY 2008 to FY 2010. The strategy aims to establish the foundation for SANYO to become a highly profitable company capable to regain public trust and reputation, while becoming 'a leading provider of Environment and Energy-related products'. In line with this a goal to achieve a consolidated operating profit of 100 billion yen or more by FY 2010 has been set and group businesses will be classified into the following three categories according to the business direction and associated technology: 'Energy', 'Electronics' and 'Ecology'.
The 'Ecology' business category, which includes air conditioning products will be strengthened through further capital investment and a sales goal fro FY 2010 is 600 billion yen (approximately 110% up over FY 2007). The European and Chinese air conditioning markets are seen as key markets for future growth by SANYO and so the company will shift management resources to these regions in order to reach its financial goals.
“SANYO's 'Think GAIA' philosophy is now showing results through its many successful product ranges including solar cells with record breaking efficiencies, eneloop rechargeable batteries and highly efficient air conditioning, including a World first with solar air conditioning. At SANYO Air Conditioners Europe it is exciting times since European air conditioning is key to SANYO growth as a whole so we can look forward to further investment, expansion and product ranges. This is illustrated by a raft of ground-breaking sustainable solutions which will be launched in 2008 including the revolutionary ECO G Power GHP air conditioning system a new gas driven VRF air conditioning system which supplies heating and cooling while co-generating hot water and electricity," adds Masafumi Yoda.
In 2008, SANYO Air Conditioners, is taking a lead in new environmental technologies. Key among these developments will be the launch of SANYO’s revolutionary ECO G Power, a new gas driven VRF air conditioning system which supplies heating and cooling while co-generating hot water and electricity – a first to the UK market. Other sustainable developments already available include SANYO’s ground-breaking solar air conditioning system, which offers one of the highest conversion efficiencies in the World, and SANYO's CO2 ECO water heater, a CO2 air to water heat pump, which marks another dramatic environmental leap forward for the HVAC industry, as well as its innovative 'Virus Washer System' which is designed to suppress and remove bacteria without using chemicals.