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Panasonic expects 21 pct annual profit rise as auto focus pays off
May 11, 2017 / 7:37 AM / 4 months ago

Panasonic expects 21 pct annual profit rise as auto focus pays off

TOKYO, May 11 (Reuters) - Panasonic Corp said on Thursday it expects operating profit to rise 21 percent in the financial year through March as investments in advanced automotive parts begin to pay off.

Panasonic forecasts operating profit to increase to 335 billion yen ($2.93 billion) from 276.8 billion yen a year prior.

The outlook compares with the 346.28 yen average estimates compiled by Thomson Reuters.

Panasonic, which mark its 100th anniversary next year, is shifting its focus to corporate clients such as automakers to escape price competition in lower-margin consumer electronics. ($1 = 114.1400 yen) (Reporting by Makiko Yamazaki; Editing by Miral Fahmy)

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