Panasonic Corp. said Thursday it has raised its full-year group earnings forecasts for the current business year through March, citing a weaker-than-expected yen.

The Japanese electronics maker is now expecting a group net profit of ¥130 billion ($1.1 billion) in fiscal 2016, compared with its earlier estimate of ¥120 billion.

Panasonic also raised its group operating profit forecast to ¥265 billion from ¥245 billion, on expected sales of ¥7.35 trillion, up from ¥7.2 trillion.