Panasonic Corporation reported a third quarter net profit of ¥59.5 billion ($506 million) on turnover of ¥2 trillion ($17 billion), which compares with a net profit of ¥73.7 billion ($626.8 million) on turnover of ¥1.9 trillion ($16.1 billion) in Q3 of the previous year. For the first nine months of the year, Panasonic posted a net profit of ¥140.4 billion ($1.2 billion) on turnover of ¥5.7 trillion ($48.5 billion), while for the same period of last year the company’s net profit was ¥243 billion ($2 billion) on turnover of ¥5.6 trillion ($47.6 billion).