Its first quarter net profit was 3.6 billion yen (30.3 million dollars), up 1.3 percent from the same period last year.

Pre-tax profit rose 3.5 percent to 8.9 billion yen on sales of 585.6 billion yen, up 15.4 percent.

Sanyo Electric Co. Ltd. said its domestic sales rose 9.1 percent to 296 billion yen, while overseas sales jumped 22.5 percent to 289.5 billion yen.

Sales of audio-visual and information communication equipment were "helped by an increase in sales of mobile phones, digital cameras, and optical pick-up devices," the company said.

Refrigerator sales slowed but strong demand for air conditioners and washing machines helped boost sales of home appliances, Sanyo added.

For the current year to March 2004, Sanyo maintained its earlier forecast of a net profit of 25.5 billion yen with a pre-tax profit of 59 billion yen on revenue seen at 2.45 trillion yen.

SPACE.WIRE