Panasonic's battery unit posts rise in Q2 operating profit, lifts forecast
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Panasonic's battery unit posts rise in Q2 operating profit, lifts forecast TOKYO, Oct 30 (Reuters) - Japan's Panasonic Holdings 6752.T said on Friday operating profit at its energy unit, which makes electric-vehicle and data-centre batteries, surged in the second quarter, lifted by higher sales of energy storage systems.
Profit for the key business, which makes batteries for Tesla TSLA.O and other EV makers, increased more than 10-fold year-on-year to 55.6 billion yen ($352 million) from 1.2 billion yen a year earlier.
Panasonic raised its full-year profit forecast for the unit to 198 billion yen, up from 171 billion yen previously.
($1 = 157.8500 yen)
(Reporting by Daniel Leussink; Editing by Christian Schmollinger)
((daniel.leussink@thomsonreuters.com; Twitter: @danielleussink;))
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