May 9, 2019 / 6:10 AM / 2 months ago

Panasonic sees 27 pct profit fall amid investor calls for change

TOKYO, May 9 (Reuters) - Japan's Panasonic Corp said on Thursday it expects operating profit to drop 27.1 percent this year, amid escalating calls from investors for the sprawling electronics conglomerate to find new ways to grow.

Panasonic, the exclusive supplier of battery cells to Tesla Inc, forecast operating profit of 300 billion yen ($2.73 billion) for the year through March 2020, down from 411.5 billion yen a year prior.

The outlook compared with the 362.5 billion yen average of 21 analyst estimates compiled by Refinitiv. ($1 = 109.9100 yen) (Reporting by Makiko Yamazaki; Editing by Sonali Paul)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below