Panasonic forecasts profit rebound for battery unit after quarterly loss

Panasonic Holdings said its energy unit, which supplies batteries to Tesla, expects full-year profit to more than double after a quarterly loss. The update signals a recovery in the battery business and improved operating momentum. The article is limited in scope, so market impact should be modest.

Analysis

Panasonic Holdings said its energy unit, which supplies batteries to Tesla, expects full-year profit to more than double after a quarterly loss. The update signals a recovery in the battery business and improved operating momentum. The article is limited in scope, so market impact should be modest.