Panasonic's battery unit posts higher Q2 operating profit, lifts forecast

TOKYO, Oct 30 (Reuters) - ‌Japan's ​Panasonic ​Holdings said on Friday that operating profit at its energy unit ‌surged to 55.6 billion yen ($352 million) ⁠in the second quarter from 1.2 billion yen ‌a year earlier, boosted ‌by higher sales of in-vehicle batteries and data centre energy storage systems.

Here ​are more details:

• Panasonic raised the unit's full-year profit forecast for the ⁠year ending March 2027 by 16% to 198 billion yen ​from 171 billion yen previously. The company makes batteries for Tesla ​and other EV makers.

• ‌It also lifted its group operating profit forecast for the period ⁠by 120 billion yen, or 20%, to 710 billion yen, in part due to ⁠stronger-than-expected growth in its AI-related businesses

• Panasonic said ​the unit's quarterly operating profit grew due to higher sales of EV batteries in North ‌America and data centre energy storage systems

• It said demand from ‌strategic customers for in-vehicle batteries continued ⁠to significantly outperform ‌the overall market

($1 = ​157.8500 yen)

(Reporting by Daniel Leussink; Editing by Christian Schmollinger and Sonia ‌Cheema)

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