A semiconductor shortage that forced carmakers to cut production also squeezed sales of automotive components, such as dashboard displays. 30, Panasonic posted a profit of 96.8 billion yen, compared with a profit of 92.8 billion yen a year ago, worse than an estimated mean 105.9 billion yen profit from nine analyst surveyed by Refinitiv.Ĭomponent supply disruptions and higher material costs as a result of the pandemic hurt profits at some units, including appliances. Tesla claims the power unit will halve battery costs and help it ramp up battery production 100-fold by 2030.įor the three-months ending Sept. Panasonic on Monday unveiled a new large prototype battery that will help Tesla lower production costs. company as global demand for electric vehicles surge amid stricter limits on carbon emissions. REUTERS/Kim Kyung-Hoonĭespite the sale of Tesla shares, it is increasing sales of auto batteries to the U.S. Panasonic sold its stake in Tesla Inc (TSLA.O) for about 400 billion yen to help fund the acquisition of Blue Yonder, which uses machine learning to help companies manage supply chains by connecting factories to warehouses and retailers.Ī man is seen next to Panasonic Corp's logo at Panasonic Center in Tokyo, Japan, February 2, 2017.
The conglomerate is also expanding its auto batteries business and bolstering sales of machinery to manufacturing companies. That acquisition is part of a strategy to shift away from low-margin consumer electronics. software company for $7.1 billion in September. That improved outlook was largely the result of a 58.3 billion yen gain in the value of the company's 20% stake in Blue Yonder after it bought the rest of U.S. The prediction is higher than a mean 368.1 billion yen profit based on forecasts from 20 analysts, Refinitiv data shows. Panasonic raised its profit forecast for the year to March 31 to 370 billion yen ($3.25 billion) from 330 billion yen.
TOKYO, Oct 28 (Reuters) - Japan's Panasonic Corp (6752.T) raised its full-year operating profit outlook by 12% on Thursday, helped by a share valuation gain and demand for automotive batteries and factory automation equipment.
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