ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Panasonic enjoys lift from Tesla but perils lurk ahead

Japanese technology group still faces threat from rival Asian suppliers

Panasonic believes wit will see its business with Tesla will be profitable on an annual basis for the first time this fiscal year.   © Reuters

OSAKA -- Panasonic now expects group net profit of 150 billion yen ($1.43 billion) for the year ending in March, the company said Tuesday, as its battery supply business with U.S. electric-vehicle maker Tesla is expected to go into the black over a 12-month period for the first time.

The figure still represents a 34% slide for the year, but stands 50 billion yen higher than what was projected previously.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more