Panasonic upgrades full-year outlook on yen's weakness

Tokyo

JAPANESE electronics giant Panasonic on Thursday revised up its full-year profit and revenue outlook following the weakness of the yen in the wake of Donald Trump's election as US president.

Panasonic, which slashed its annual forecasts three months ago, said that it now expects net profit to come in at 130 billion yen (S$1.6 billion) for the fiscal year through March, up from its earlier estimate of 120 billion yen. The company also raised its revenue expectation, saying that full-year sales would come in at 7.35 trillion yen, up from 7.2 trillion yen projected earlier.