AI boom and Tesla batteries: Panasonic raises profit forecast by 20 percent
The Japanese electronics group now expects operating profit of 710 billion yen. Its battery unit earned 55.6 billion yen in the quarter, up from 1.2 billion a year earlier.
Archive image · Photo: Pokarin / Wikimedia Commons, CC BY-SA 4.0 (cropped and resized)
Panasonic raised its full-year forecast on Friday for the second consecutive quarter. For the fiscal year ending in March 2027, the group now expects operating profit of 710 billion yen (about $4.5 billion), up from 590 billion yen previously. It sees revenue of 8.4 trillion yen and net profit of 540 billion yen.
The main driver is the energy unit, which supplies batteries to Tesla and other electric vehicle makers. Its second-quarter operating profit rose to 55.6 billion yen from 1.2 billion yen a year earlier. Panasonic cited higher battery sales in North America and energy storage systems for data centers. Capacitors and circuit-board materials for AI infrastructure also sold better.
AI-related demand had been stronger than expected, Chief Executive Yuki Kusumi told reporters, according to Reuters. He called the extent of the improvement a "surprise." In the first half, operating profit more than doubled to 363.2 billion yen, while revenue grew 7.1 percent.