Matsushita Q1 profit up 13.5 pct on softer yen

(Reuters) - The sharp gain came although JVC, owned 52.4 percent by Matsushita, was hit by slow sales of its LCD TVs in Japan and Europe.



JVC said on Tuesday it would issue 35 billion yen worth of new shares to Kenwood Corp. and asset manager Sparx Group in August, taking itself off Matsushita's consolidated accounts.


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