Saturday, 4 December, 2021

Panasonic raises profit outlook 12pc on share valuation gain

TOKYO: Japan’s Panasonic Corp raised its full-year operating profit outlook by 12 per cent on Thursday, helped by a share valuation gain and demand for automotive batteries and factory automation equipment.

Panasonic raised its profit forecast for the year to Mar 31 to 370 billion yen (US$3.25 billion) from 330 billion yen. The prediction is higher than a mean 368.1 billion yen profit based on forecasts from 20 analysts, Refinitiv data shows, report agencies.