CORRECTED: UPDATE1: Panasonic's April-Dec. net profit up on brisk sales of EV batteries

Economy

Panasonic Corp. on Wednesday reported a net profit of 195.63 billion yen ($1.70 billion) in the April-December period, up 50.3 percent from a year earlier, on the back of strong sales of batteries for electric vehicles. The automotive and energy segments, key growth areas for the electronics company, logged sales of 774.9 billion yen, up 7 percent from a year earlier, and 568.0 billion yen, up 27 percent, respectively, due to strong overseas demand for in-vehicle equipment and electric car batteries for Tesla Inc. The 860 billion yen acquisition of U.S. supply chain management firm Blue Yonder...

Kyodo News

Kyodo News