Panasonic cuts battery unit’s operating profit forecast by 15% for full financial year

The Panasonic booth is shown during the 2020 CES in Las Vegas

The Panasonic sales space is proven through the 2020 CES in Las Vegas, Nevada, U.S. January 7, 2020. REUTERS/Steve Marcus/File Picture Purchase Licensing Rights

TOKYO, Oct 30 (Reuters) – Japan’s Panasonic Holdings (6752.T) on Monday minimize the working revenue forecast for its vitality unit that makes automotive batteries by 15%, because it warned of slowing demand for high-end electrical automobiles in North America.

Panasonic lowered its full-year working revenue forecast for the vitality unit that makes batteries for Tesla (TSLA.O) and different automakers to 115 billion yen ($769 million) from 135 billion yen.

($1 = 149.5400 yen)

Reporting by Daniel Leussink; Modifying by Kim Coghill

Our Requirements: The Thomson Reuters Belief Rules.

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