TOKYO (dpa-AFX) - Japan's Panasonic Holdings Corp. (PCRFF, PCRFY, 6752.T) reported Thursday significantly higher profit in its first quarter, driven by higher sales. Further, the firm lifted fiscal 2027 outlook.
In Tokyo, the shares gained 2.2 percent on Thursday to close regular trading at 3,584.00 yen.
For the first quarter, net profit attributable to stockholders was 135.17 billion yen or 57.88 yen per share, up 89.2 percent from 71.46 billion yen or 30.60 yen per share last year.
Operating profit surged 110 percent year-over-year to 182.46 billion yen.
The company's revenue for the period grew 6.4 percent to 2.02 trillion yen from 1.90 trillion yen last year.
Looking ahead for fiscal ending March 31, 2027, the company now project attributable net profit of 450 billion yen or 192.73 yen per basic share, a growth of 137.4 percent from last year; and operating profit of 590 billion yen, up 150 percent year-over-year.
The company previously expected attributable net profit of 420 billion yen or 179.89 yen per basic share, a growth of 121.6 percent from last year; and operating profit of 550 billion yen, up 132.6 percent year-over-year.
Further, the company now projects net sales to drop 3.1 percent from last year to 7.80 trillion yen while previous view was net sales to be down 5.6 percent to 7.60 trillion yen.
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