Panasonic’s battery unit Q2 operating profit rises 42%

TOKYO : Japan’s Panasonic Holdings said on Thursday the second-quarter operating profit of its battery-making energy unit rose 42 per cent, despite pressure from decreasing demand in Japan and lower sales values in North America due to price revisions.
Operating income for the key segment, which makes batteries for Tesla and other automakers, increased to 32.7 billion yen ($213.82 million), helped by stronger sales of energy storage systems for data centres in the unit’s consumer business.
The company, however, maintained the full-year operating profit forecast for the unit at 109 billion yen.
($1 = 152.9300 yen)