Tokyo, May 22, 2008 --- SANYO Electric Co., Ltd. (SANYO) announces its consolidated results for the Fiscal Year (FY) 2007 ended March 31, 2008.

　The consolidated sales total rose for the year by 7.2% to 2017.8 billion yen, compared to the last year. For the Japanese market, because of the unfavorable sales of home appliances products and commercial-use equipment such as showcases and kitchen instruments, there was an overall decrease of 5.0%, totaling 742.5 billion yen compared to last year. As for overseas markets, there were favorable and increased sales in digital cameras, rechargeable batteries and solar photovoltaic modules as well as strong sales in commercial-use air conditioners, showing a strong increase of 15.9% from the last year to total 1275.3 billion yen.

　As for operating profit, in spite of the escalating costs of raw materials and the appreciation of the Japanese yen, FY 2007 ended with an operating profit of 76.1 billion yen, an increase of 78.7% over the last year thanks to increased sales in digital cameras and rechargeable batteries, and electronic devices.
　Profit before tax for continuing operations, showed a strong recovery of 73.3 billion, reaching 57.2 billion yen. The net profit for the year after taxes was 28.7 billion yen, a recovery of 74.1 billion yen over the last fiscal year.

　SANYO also simultaneously today announced its new ‘Mid-term Management Plan’, a new three-year (FY 2008 – FY 2010) plan based on the ‘Master Plan’ announced last November, making clear the path to profitability and ensuring future sustainable growth. Within the plan, more specific target goals were outlined, all focusing on completing the ‘Challenge 1000’, a challenge for the group to achieve an operating profit of 100 billion yen within 1000 days (approximately three years).

　Seiichiro Sano, Executive Director & President of SANYO, commented, “The results of FY 2007 eclipsed the forecast in terms of profit, surging as much as 78.7% compared to last year, and have moved the balance sheet back into the black after four fiscal years.“
　Though the business environment in the FY2008 will be expected to be difficult because of issues such as currency exchange rates, the elevating cost of raw materials among other factors, SANYO plans to position FY 2008 as a year for the prior investment needed to reach the goal of achieving an operating profit of 100 billion yen by the end of FY 2010, the last year of the newly outlined Mid-term Management Plan.
　President Sano added, “We will focus the majority of the 122.5 billion yen planned investment in the Energy Business Area, especially for products such as rechargeable batteries and solar photovoltaic modules. While we have forecast a reduction in operating profit for FY2008 compared with the previous year, it is an important year for investments to prepare for accomplishing the challenge goals of FY 2010.”

The forecast for FY 2008 has been determined as outlined below.