Panasonic raises profit outlook on AI demand, battery unit profit jumps

TOKYO, July 30 : Panasonic Holdings raised its full-year operating profit forecast on growing demand tied to AI on Thursday and posted a rise in quarterly profit at its key battery-making energy unit on higher sales of energy storage systems.The Japanese company raised its group profit forecast for the year ending March 2027 by 40 billion yen, or 7 per cent, to 590 billion yen ($3.6 billion), citing expected demand growth for generative AI server applications in its industry business.Operating profit at its energy unit, which makes batteries for data centres and electric-vehicle makers including Tesla, rose 28 per cent to 40.9 billion yen in the April-June quarter, also helped by favourable exchange-rate effects.Panasonic maintained its full-year profit forecast for the energy unit at 171