The manufacturer saw its energy division deliver 55.6 billion yen in second-quarter operating profit, recovering sharply from 1.2 billion yen in the prior-year period. Growth was anchored by North American automotive battery shipments that outpaced broader market trends, alongside rising deliveries of storage systems for data centers. Management subsequently upgraded the energy division's profit projection for the year ending March 2027 by 16 percent to 198 billion yen. The entire group also raised its consolidated forecast for the same period to 710 billion yen, helped by AI-related momentum.
Key points
Electric vehicle battery demand in North America outpaced the broader market to drive sub…: Electric vehicle battery demand in North America outpaced the broader market to drive substantial operating profit gains.
Expanding data center storage system needs provided crucial financial support alongside v…: Expanding data center storage system needs provided crucial financial support alongside vehicle battery operations.
Stronger growth across artificial intelligence-related business units is boosting the ove…: Stronger growth across artificial intelligence-related business units is boosting the overall earnings trajectory for the parent company.
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TOKYO, Oct 30 : 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 per cent 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 per cent, 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
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