flow one year ahead of schedule.
Income before income taxes decreased
by 12% from fiscal 2014 to 182.5 billion
yen. Turning to other income (deductions),
the major components were gains from
business transfers and proceeds from the
sale of fixed assets as well as business
restructuring expenses including impairment
losses on fixed assets, expenses related to
litigation and the prevention of further
accidents relating to residential water
heating systems.
Net income attributable to Panasonic
Corporation came to 179.5 billion yen, an
increase of 49% from the previous fiscal
year. This significant surge in profit was
mainly due to a decrease in the provision for
income taxes as a result of the reposting of
deferred tax assets (DTAs) in the consolidated
financial statements of Panasonic Corporation.
Return on Equity (ROE) in fiscal 2015 was
10.6%, a 2.0 percentage point improvement
from the previous fiscal year.