The Energy division’s annual profit forecast rose 16%, while quarterly earnings benefited from EV battery and data center storage sales.
Panasonic Holdings on October 30 lifted its annual operating profit projection to ¥710 billion, a 20% increase, citing unexpectedly strong AI demand among several factors supporting the revision.
The new group forecast replaces an estimate of ¥590 billion for the fiscal period ending in March 2027. Panasonic has now increased its outlook in two successive quarters. It cited pricing changes, favorable currency movements and the lack of the U.S. tariff impact that affected the previous year.
Group CEO Yuki Kusumi said demand related to AI had surpassed expectations. While he had seen potential for another upgrade, the scale of the improvement surprised him. The Industry business sold more capacitors and multilayer circuit-board materials used in AI infrastructure.
The Energy division posted second-quarter operating profit of ¥55.6 billion, up from ¥1.2 billion a year earlier. Panasonic attributed that increase to stronger North American sales of EV batteries and greater sales of data center energy storage systems. The division supplies batteries to Tesla and other electric-vehicle manufacturers.
Panasonic increased the division’s annual profit estimate to ¥198 billion from ¥171 billion, a 16% revision, for the fiscal period ending in March 2027.