Panasonic forecasts profit rebound for battery unit after quarterly loss

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TOKYO, May 12 : Japan's Panasonic Holdings said on Tuesday it expected full-year profit at its energy unit, which supplies batteries to Tesla, to more than double, recovering after posting a quarterly loss.

Operating income for the key segment is expected to total 171 billion yen ($1.09 billion) in the year ending March 2027, versus 69.8 billion yen in the year just ended.

The business, which posted a 3.8-billion-yen loss in the January-March quarter, was hit by U.S. tariffs, start-up costs at its Kansas plant and lower sales at a factory in Japan.

($1 = 157.5000 yen)

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