• Reuters

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Panasonic Holdings, whose energy unit supplies batteries to Tesla, reported a 39% drop in first-quarter profit Thursday as demand for its home appliances and car batteries slowed, following a pandemic-fueled surge last year.

The group’s operating profit for the three months to June 30 was ¥63.7 billion ($470.77 million), missing an estimated mean of ¥73.3 billion from nine analysts, according to Refinitiv.

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