Panasonic said it expects net profit to rise to a record high this year on robust auto battery sales and a hefty tax credit in the United States
on Wednesday said it expects net profit to rise to a record high this year on robust auto battery sales and a hefty tax credit in the United States., is expanding its energy business just as persistently high inflation rates worldwide dampen consumer sentiment.
The net profit outlook would be up 23% from the prior record of 284.1 billion yen, set in the year ending in March 2019. Panasonic expects operating profit at its energy unit, which manufactures batteries, to jump fourfold to 133 billion yen this business year thanks to the tax credit and growing EV battery sales in the United States.
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