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Panasonic raises full-year operating profit forecast

31
Oct
2013

Panasonic raised its full-year earnings forecast as expected, with strong sales of its automotive systems and eco-friendly technology powering its transformation into an industrial components supplier from a consumer electronics brand. Panasonic Corp increased its operating profit forecast for the year to March to 270 billion yen ($2.75 billion) from a previous forecast of 250 billion yen. That compares with expectations of 268.2 billion yen, the average of 19 analyst estimates according to Thomson Reuters Starmine. After a round of heavy restructuring that has seen Panasonic pull out of plasma TVs, smartphones and downsize its chipmaking segment, the Japanese company posted a net profit of 61.5 billion yen for the three months to September.

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