Sanyo Raises Profit Forecast on Components, Batteries

Sanyo Electric Co., the battery maker acquired by Panasonic Corp., returned to profit in the first quarter and raised its profit forecasts, citing stronger earnings from solar panels and electronic components.

Net income will probably total 16 billion yen ($182 million) in the six months ending Sept. 30, compared with an earlier projection of break even, the Osaka-based company said today. Operating income, or sales minus the cost of goods sold and administrative expenses, may be 24 billion yen, more than double the May projection of 11 billion yen.