OREANDA-NEWS. Helped by a weaker yen and aggressive cost-cutting, Panasonic Corp. said Friday it returned to profit in the October-December quarter from the same period a year earlier, when the Japanese electronics giant incurred a massive restructuring loss.

Panasonic posted a net profit of 61.4 billion yen in the October-December quarter versus a Y197.6 billion loss in the year-ago period.

The result comes three months after Panasonic reported a nearly Y700 billion loss, one of the biggest-ever quarterly losses by a Japanese manufacturer. Sales fell 8% to Y1.802 trillion in the three months to December.