Panasonic expects battery unit's annual profit to rise 23%

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TOKYO - Japan's Panasonic Holdings forecast on Thursday a 23% rise in operating profit for its battery-making energy unit in the current business year, after undershooting its estimated operating profit for the year that just ended.

Operating income for the key segment, which makes batteries for Tesla and other automakers, is expected to reach 109 billion yen in the year to March 31, 2025, Panasonic said.The unit made 88.8 billion yen in the year that ended in March, missing its own 113 billion yen forecast.It has been our privilege to have the trust and support of our East Coast communities for the last 200 years. Our SaltWire team is always watching out for the place we call home.

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