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Panasonic expects return to black

Panasonic Corp. expects to return to the black this business year, which ends next March, with a group net profit of more than JPY50 billion (USD625.7 million), after its biggest-ever net loss of JPY780 billion projected for the year that ended in March this year, sources said on Wednesday.

The sharp improvement in its performance, which was hit by the slumping television business in fiscal 2011, is attributable to effects of restructuring efforts, the sources said.