Panasonic sees profit falling this year on slower emerging markets

Reuters News
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Posted: Apr 28, 2016 4:32 AM

TOKYO (Reuters) - Panasonic Corp forecast its profit to fall in the current business year amid slower growth in emerging markets as well as planned investments in automotive technologies and high-end consumer electronics.

The company said it expects operating profit of 375 billion yen ($2.86 billion) in the year ending March, down from 416 billion yen in the previous year.

It had flagged the weaker outlook last month, showing that even one of the strongest of Japan's consumer electronics companies is struggling to grow as the domestic economy grapples with weaker consumer spending and slower exports to China.

(Reporting by Ritsuko Ando; Editing by Christopher Cushing)