Japanese electronics manufacturer Panasonic expects the weaker yen to positively affect the operating income for its current fiscal year. For the third quarter, investments did have a negative impact on its profit.
Towards 2.17 billion euro profit
Unlike its competitor Sony, Panasonic adjusted its profit forecast for the full fiscal year upward, thanks to a weaker yen which will “strengthen” its foreign turnover. The Japanese electronics giant now forecasts a 265 billion yen (2.2 billion euro) operational profit, up from 245 billion yen previously.
From October until December, Panasonic’s operational profit dropped: 96 billion yen compared to 119.8 billion yen previously. Enormous investments to develop its growing battery division were the reason for the profit slump, the company revealed.
