Panasonic Corp. (PC: News ) reported third quarter net income attributable to Panasonic of 32.26 billion yen, compared to net loss attributable to Panasonic of 63.12 billion yen last year.

Consolidated group sales for the quarter edged up to 1.89 trillion yen, laptop battery   from 1.88 trillion yen in the same quarter a year earlier.

Further, Panasonic revised the consolidated results forecast for fiscal 2010. Sales are expected to be 7,350 billion yen, up from the previous forecast of 7,000 billion yen. Operating profit is expected to be 150 billion yen, improved from the previous forecast of 120 billion yen. However, net loss attributable to Panasonic Corp forecast of 140 billion yen remain unchanged.

Separately, Panasonic said its Board of Directors has decided and signed an agreement to absorb Panasonic Battery Electrode Co., Ltd., a wholly-owned consolidated subsidiary of Panasonic. The merger is expected to take effect on April 1, 2010.

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