Japanese multinational electronics giant Panasonic Holdings posted record earnings in the last six months. In the period from April to September, their net profit stood at ¥28,800 billion or $1.9 billion. News Nikkei Asia.
According to the news, the expansion of electric vehicle battery business has played a major role behind this growth of Panasonic. Besides, the company has benefited from the US subsidy.
But despite the record revenue, Panasonic lowered its full-year total revenue forecast. A 38.6 percent decline in revenue is forecast due to lower demand in China.
