TOKYO -- Matsushita reported record profits of 281.9 billion yen ($2.7 billion) for its fiscal year ended in March, up about 30% from last year, on a 0.4% uptick in sales, to 9.07 trillion yen ($86.9 billion).

Operating profit rose 13% to 519.5 billion yen ($4.98 billion).

For fiscal 2008, the company guided for a net profit of 310 billion yen ($2.97 billion) and an operating profit of 560 billion yen ($5.4 billion), on sales of 9.20 trillion yen ($88.1 billion).

Matsushita is the parent of Panasonic, the world's largest consumer electronics group and a maker of factory automation equipment including placement machines and screen printers.

A local paper reported Matsushita might purchase a 67% stake in Sanyo, a report both companies denied.