Panasonic full-year forecast revised downwards
Panasonic has revised its financial forecast for the year ending 31st March 2019, predicting net sales of ¥8.1 trillion, down from the ¥8.3 trillion forecast in May 2018.
Operating profit is expected to be ¥385 billion, ¥40 billion less than predicted, while pre-tax profit is now expected to be ¥385 billion, ¥35 billion down on the previous forecast.
The company said the sales forecast revision was mainly due to weakening sales in Appliances and Automotive & Industrial Systems. Operating and pre-tax profits were affected by a partial revision of the pension system.
Net profit, at ¥250 billion, remains unchanged.
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