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28. May, 2007

SANYO Electric Co., Ltd. Consolidated Financial Results for Fiscal Year 2006

Note: This is a Summary of the Japanese original

Tokyo, May 28, 2007 --- SANYO Electric Co., Ltd. announced its consolidated results for the Fiscal Year 2006 ended March 31, 2007.

1. Consolidated Results (Unaudited)

(Unit: Millions of Yen)

  Fiscal Year 2006
From April 1, 2006
To March 31, 2007
Fiscal Year 2005
From April 1, 2005
To March 31, 2006
Change
Net sales 2,215,434 2,397,026 -7.6%
Operating income (loss)
49,568
( 2.2%)
(17,154)
( -0.7%)
-
Income (loss) before
income taxes and minority
interest for continuing
operations
(13,070)
( -0.6%)
(165,696)
( -6.9%)
-
Net income (loss) (45,362)
( -2.0%)
(205,661)
( -8.6%)
-
Net income (loss)
per share
(72.66 yen) (194.96 yen)

1. SANYO's consolidated financial statements are prepared based on U.S. accounting standards.
2. Operating income (loss) and business segments are prepared based on Japanese accounting standards.
3. The number of consolidated companies 205. The number of unconsolidated subsidiaries and affiliates accounted for by the equity method 70.
4. (%) ratio compared to net sales.

2. Non-Consolidated Financial Results (Unaudited)

(Unit: Millions of Yen)

  Fiscal Year 2006
From April 1, 2006
To March 31, 2007
Fiscal Year 2005
From April 1, 2005
To March 31, 2006
Change
Net sales 1,215,914 1,353,445 -10.2%
Operating income (loss) (16,377)
( -1.3%)
(40,072)
( -3.0%)
-
Ordinary income (loss) (21,276)
( -1.7%)
(48,275)
( -3.6%)
-
Net income (loss) (57,144)
( -4.7%)
(360,991)
( -26.7%)
-
Net income (loss)
per share
(9.31 yen) (174.73 yen)

1. (%) ratio compared to net sales.

3. Consolidated Sales by Business Group Category (Unaudited)

(Unit: Millions of Yen)

Product category Fiscal Year 2006
From April 1, 2006
To March 31, 2007
Fiscal Year 2005
From April 1, 2005
To March 31, 2006
Change
Amount Ratio to
total
Amount Ratio to
total
Amount Ratio
Consumer 1,009,698 45.6% 1,146,765 47.8% -137,067 -12.0%
Commercial 270,553 12.2% 234,962 9.8% 35,591 15.1%
Component 875,114 39.5% 911,750 38.0% -36,636 -4.0%
Others 60,069 2.7% 103,549 4.4% -43,480 -42.0%
Total 2,215,434 100.0% 2,397,026 100.0% -181,592 -7.6%
Breakdown Domestic
sales
953,713 43.0% 1,162,390 48.5% -208,677 -18.0%
Overseas
sales
1,261,721 57.0% 1,234,636 51.5% 27,085 2.2%

4. Consolidated Statements of Income (Unaudited)

(Unit: Millions of Yen)

Items Fiscal Year 2006
From April 1, 2006
To March 31, 2007
Fiscal Year 2005
From April 1, 2005
To March 31, 2006
Change
Amount Ratio to
net sales
Amount Ratio to
net sales
Amount Ratio
Net sales

Operating revenue

Sales and operating
revenue

Cost of sales

Selling, general and
administrative expenses

Operating income (loss)

Other income

  [Interest and dividends]

   [Other]

Other expenses

   [Interest]

   [Other]

Income (loss) before
income taxes for
continuing operations


Income taxes
2,215,434

93,194

2,308,628


1,899,695

359,365

100%

4.2%

104.2%


85.8%

16.2%

2,397,026

87,279

2,484,305


2,102,734

398,725

100.0%

3.6%

103.6%


87.7%

16.6%

-181,592

5,915

-175,677


-203,039

-39,360

-7.6%

6.8%

-7.1%


-9.7%

-9.9%

49,568

40,165

[8,013]

[32,152]

102,803

[20,720]

[82,083]
2.2%

1.8%





4.6%



(17,154)

66,840

[7,170]

[59,670]

215,382

[18,412]

[196,970]
-0.7%

2.8%





9.0%



66,722

-26,675

[843]

[-27,518]

-112,579

[2,308]

[-114,887]
-

-39.9%





-52.3%



(13,070)


28,516
-0.6%


1.3%
(165,696)


38,309
-6.9%


1.6%
152,626


-9,793
-


-25.6
Income (Loss) before
minority interests for
continuing operations


Minority interests

(41,586)


3,776

-1.9%


0.1%

(204,005)


(3,675)

-8.5%


-0.1%

162,419


7,451

-


-
Net income (loss) for
continuing operations

Discontinued operations

Income (loss) from
discontinued operations

Income taxes
(45,362)




-


-
-2.0%




-


-
(200,330)




(1,882)


3,449
-8.4%




-0.1%


0.1%
154,968




1,882


-3,449
-




-


-
Net income (loss) for
discontinued operations
- - (5,331) -0.2% 5,331 -
Net income (loss) (45,362) -2.0% (205,661) -8.6% 160,299 -

5. Consolidated Balance Sheet (Unaudited)

(Unit: Millions of Yen)

Items As of
March 31, 2007
As of
March 31, 2006
Increase
(Decrease)
(Assets)
Current Assets
Cash
Time deposits
Restricted cash
Valuable securities
Receivables:
   Notes and accounts receivables
   Finance receivables
Affiliates and unconsolidated subsidiaries
   Allowance for doubtful accounts
   Inventories
   Deferred income taxes
   Other
Current assets total

Investment and advances:
Affiliates and unconsolidated subsidiaries
Other
Total

Property, plant & equipment:
Buildings
Machinery and equipment
Accumulated depreciation
Land
Construction in progress
Total

Deferred income taxes
Other assets


148,382
186,304
88,000
672

453,999
21,117

(7,493)
329,108
5,850
62,271
1,288,210


49,180
84,045
133,225


401,796
867,425
(901,604)
91,605
9,557
468,779

13,921
66,805


196,784
100,716
264,800
1,109

461,613
19,182

(10,509)
317,894
8,287
60,441
1,420,317


48,000
112,988
160,988


409,581
919,154
(941,303)
101,664
11,590
500,686

10,935
61,911


(48,402)
85,588
(176,800)
(437)

(7,614)
1,935

3,016
11,214
(2,437)
1,830
(132,107)


1,180
(28,943)
(27,763)


(7,785)
(51,729)
39,699
(10,059)
(2,033)
(31,907)

2,986
4,894
Total Assets 1,970,940 2,154,837 (183,897)
(Liabilities)
Current liabilities
  Short-term borrowings
   Current portion of long term debt
   Notes and accounts payable
   Trade
Affiliates and unconsolidated subsidiaries
   Construction
   Accrued income tax
   Employees' savings deposits
   Other
Total current liabilities
Long-term debt
Accrued pension and severance costs
Long-term deferred tax liabilities
Total liabilities

Minority interests in
Consolidated subsidiaries


(Stockholders' equity)
Common stock
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Total

Treasury stock

Total stockholders' equity


219,785
155,221
406,577
6,118

20,424
8,997
12,202
245,564
1,074,888

340,698
211,173
8,327
1,635,086

23,846


322,242
781,951
(633,315)
(151,174)
319,704

(7,696)

312,008


264,441
74,297
402,638
20,392

13,334
11,638
13,647
245,856
1,046,243

500,434
186,969
-
1,733,646

18,299


261,328
721,828
(466,951)
(105,885)
410,320

(7,428)

402,892


(44,656)
80,924
3,939
(14,274)

7,090
(2,641)
(1,445)
(292)
28,645

(159,736)
24,204
8,327
(98,560)

5,547


60,914
60,123
(166,364)
(45,289)
(90,616)

(268)

(90,884)
Total liabilities,
minority interests and stockholders' equity
1,970,940 2,154,837 (183,897)

6. Consolidated Statement of Cash Flows (Unaudited)

Items Fiscal Year 2006
From April 1, 2007
To March 31, 2008
Fiscal Year 2005
From April 1, 2005
To March 31, 2006
1. Cash flows from operating activities
  Net income (loss)
  Depreciation and amortization
   Impairment loss for fixed assets
   (Increase) decrease in receivables
   (Increase) decrease in inventories
   Increase (decrease) in notes & accounts payable
   Other, net

(45,362)
94,887
9,882
134
(19,219)
3,402
(51,248)

(205,661)
129,712
107,702
21,281
78,552
(105,520)
(26,730)
Net cash provided (used) in operating activities (7,524) (664)
2. Cash flows from investing activities
   Decrease (Increase) in short term
  & long term investments
   Purchase of tangible fixed assets
   Proceeds from fixed assets
   Other, net

16,448

(66,607)
34,661
(1,368)

96,924

(84,564)
46,760
(23,119)
Net cash provided (used) in investing activities (16,866) 36,001
3. Cash flows from financing activities
   Decrease in short term borrowing
   Increase (Decrease) in long term debt
  Cash provided by newly issued shares
   Expenditures for money trust
   Proceeds from restricted cash
   Dividends paid
   Other, net

(39,155)
(74,764)
-
-
176,800
(730)
(149)

(20,432)
(84,115)
299,238
(300,000)
35,200
(1,606)
1,735
Net cash provided (used) in financing activities 62,002 (69,980)
4. Effect of exchange rate changes on
   cash & cash equivalents
(426) 8,182
5. Net decrease in cash & cash equivalents 37,186 (26,461)
6. Cash & cash equivalents of newly consolidated subsidiaries

7. Cash & cash equivalents at beginning

8. Cash & cash equivalents at end
-

297,500

334,686
28,979

294,982

297,500

7. Consolidated Segment Information (Unaudited)

(Unit: Millions of Yen)

Items Fiscal Year 2006
From April 1, 2006
To March 31, 2007
Fiscal Year 2005
From April 1, 2005
To March 31, 2006
Change
Amount Component
proportion
ratio
Amount Component
proportion
ratio
Amount Ratio
Net sales
&
operating
revenue
Consumer 1,017,662 43.3% 1,154,395 45.5% (136,733) -11.8%
Commercial 275,358 11.7% 236,272 9.3% 39,086 16.5%
Component 900,673 38.4% 948,448 37.4% (47,775) -5.0%
Others 154,589 6.6% 198,937 7.8% (44,348) -22.3%
Sub-total 2,348,282 100.0% 2,538,052 100.0% (189,770) -7.5%
Corporate &
eliminations
(39,654) - (53,747) - 14,093 -
Total 2,308,628 - 2,484,305 - (175,677) -7.1%
Operating
income
(loss)
Consumer (1,673) -2.0% (9,889) -62.3% 8,216 -
Commercial 14,481 17.1% 7,471 47.1% 7,010 93.8%
Component 67,607 79.6% 11,632 73.3% 55,975 481.2%
Others 4,515 5.3% 6,655 41.9% (2,140) -32.2%
Sub-total 84,930 100.0% 15,869 100.0% 69,061 435.2%
Corporate &
eliminations
(35,362) - (33,023) - (2,339) -
Total 49,568 - (17,154) - 66,722 -

(Notes)
1. Main Contents of Business Segment

Consumer: Visual equipment such as TVs, VCRs, DVD Players, LCD projectors
ICT equipment such as digital cameras, audio equipment and telephones
Home appliances such as refrigerators, air conditioners, washing machines and
microwave ovens
Commercial: Commercial equipment such as showcases, package-type air conditioners
and absorption-type chiller / heaters
Component: Semiconductors, electronic components, primary batteries, rechargeable batteries
and solar batteries
Others: Distribution and maintenance

2. Basic R&D expenses and corporate office expenses are included in the item of "Corporate and eliminations" as unallocated expenses.

8. Forecast of consolidated results for FY 2007 (April 1, 2007 to March 31, 2008)

(Unit: Millions of Yen)

Consolidated Forecast 1H of FY 2007 FY 2007 FY 2006 (Result)
Net sales: 1,050,000 2,230,000 2,215,434
Operating profit: 10,000 45,000 49,568
Income (loss) before income
taxes and minority interests:
11,000 32,000 (13,070)
Net income (loss): 5,000 20,000 (45,362)
       
Non-Consolidated Forecast 1H of FY 2007 FY 2007 FY 2006 (Result)
Net sales: 670,000 1,450,000 1,215,914
Operating profit (loss): (6,000) 10,000 (16,377)
Ordinary profit (loss): (9,000) 1,500 (21,276)
Net income (loss): 5,000 15,000 (57,144)

*The forecasts above are based on assumptions deemed reasonably at the time they were prepared, actual results may differ significantly from forecasts. Actual results may be influenced but not limited to the following, changes in political and economic regions, increased material costs and fluctuations in the foreign exchange markets.


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