TOKYO, Feb 2 ― Japan's Panasonic Corp raised its full-year operating profit outlook today as it benefited from a weaker yen that has boosted the value of earnings repatriated from overseas.
The electronics conglomerate forecast group profit of ¥265 billion (RM10.41 billion) for the year ending March 31, up from a previous estimate of ¥245 billion under international financial reporting standards (IFRS).
The forecast, however, was less than a ¥288 billion Thomson Reuters Starmine SmartEstimate, based on forecasts of 19 analysts.
Panasonic reported under US accounting standards October-December operating profit fell to ¥96 billion from ¥119.8 billion a year earlier as costs increased because of investments to expand businesses such as its battery unit.
That beat a Thomson Reuters Starmine SmartEstimate of ¥77 billion drawn from seven analysts. SmartEstimates give greater weight to recent forecasts by top-rated analysts. ― Reuters
