Panasonic Doubles Forecast Amid Shift to Auto-Related Businesses
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Panasonic Corp. doubled its full-year profit forecast after benefiting from a weak yen and boosting battery sales, including winning a contract to supply Tesla Motors Inc.
Net income will probably total 100 billion yen ($1 billion) in the year ending in March 2014, the Osaka-based company said in a statement today. That compares with its July projection of 50 billion yen and the 68.9 billion yen average of 15 analysts’ estimates compiled by Bloomberg.