Panasonic cuts battery unit’s operating profit forecast by 15% for full financial year By Reuters

© Reuters. FILE PHOTO: The Panasonic sales space is proven throughout the 2020 CES in Las Vegas, Nevada, U.S. January 7, 2020. REUTERS/Steve Marcus/File Photograph

TOKYO (Reuters) – Japan’s Panasonic (OTC:) Holdings on Monday lower the working revenue forecast for its power unit that makes automotive batteries by 15%, because it warned of slowing demand for high-end electrical autos in North America.

Panasonic lowered its full-year working revenue forecast for the power unit that makes batteries for Tesla (NASDAQ:) and different automakers to 115 billion yen ($769 million) from 135 billion yen.

($1 = 149.5400 yen)