Japanese consumer electronics and electric vehicle battery maker Panasonic Corp. increased operating profit by 3.8% to 86.903 billion yen ($583 million) in the first quarter of fiscal 2026, according to reports.
Net income rose 1.2% to 71.463 billion yen.
Meanwhile, revenue fell 10.6% to 1.897 trillion yen.
Panasonic Energy, which produces batteries for electric vehicles (including Tesla), increased operating profit by 47% to 31.9bn yen in April-June.
Panasonic reiterated its forecast that operating profit will fall 13.2% to 370 billion yen for the current fiscal year ending 31 March 2026. Net income is expected to be 310 billion yen (-15.3%) and revenue is expected to be 7.8 trillion yen (-7.8%).
Panasonic Energy’s operating profit is still expected to be 167bn yen.
Panasonic stock prices at the end of trading on Wednesday fell by 0.1%, the report was published after the market close. Over the past three months, the market value of the company decreased by 9.5% (almost to 3.5 trillion yen), while the Nikkei 225 stock index rose by about 13%.
The global Panasonic Group includes more than 500 enterprises and research and development centres around the world. It employs more than 207,500 people.