financetom
Business
financetom
/
Business
/
Panasonic's battery unit Q1 operating profit hurt by decreasing sales
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Panasonic's battery unit Q1 operating profit hurt by decreasing sales
Jul 31, 2024 1:14 AM

TOKYO, July 31 (Reuters) - Japan's Panasonic Holdings ( PCRFF )

said on Wednesday the first-quarter operating profit of

its battery-making energy unit was hit by decreasing sales and

faced a decline in production at its automotive battery factory

in Japan.

Operating income for the key segment, which makes batteries

for Tesla and other automakers, posted a 27%

year-on-year decline to 21.6 billion yen ($141.97 million).

The company, however, maintained the full-year operating

profit forecast for the unit at 109 billion yen.

($1 = 152.1400 yen)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved