Panasonic raises profit outlook 12%

Japan's Panasonic on Thursday (October 28) raised its full year operating profit outlook by 12%, to 3.25 billion dollars.

It was helped by a share valuation gain and increased sales of automotive batteries.

And factory automation equipment.

In the three months to September 30th, Panasonic posted a profit of 851.6 million dollars.

The Japanese company reassessed its 20% stake in Blue Yonder after it bought the rest of the U.S. software company for $7.1 billion in September.

Panasonic last business year sold its stake in Tesla, according to financial filings, to help fund that deal.

Blue Yonder uses machine learning to help companies manage their supply chains by connecting factories to warehouses and retailers.