Panasonic boosted by weaker yen

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.