Panasonic Corp. has admitted that the acquisition of Sanyo Electric Co Ltd, the world's largest rechargeable battery maker, in December, will affect its full year results. Panasonic completed its 400 billion yen ($4.5 billion) acquisition of a 50.2% stake in Sanyo, in a move to establish a new growth driver.

The unprofitable Sanyo initially will weigh on its earnings. For the current fiscal year ending March 31, Panasonic said the Sanyo will add 10 billion yen in net loss even though it will boost revenue by 375 billion yen. Panasonic kept its full-year net loss outlook unchanged at 140 billion yen, although it said it would have narrowed the loss to 130 billion yen if not for the Sanyo deal.

Panasonic's main electronics business has been facing a slump, forcing it to shutter plants and cut jobs to reduce costs. Panasonic said it now expects to cut its annual fixed costs by 370 billion yen in the current fiscal year, an increase of 42% from a prior target.

With Sanyo offering solar cells as well as rechargeable batteries, and Panasonic making fuel cells, the new Panasonic group is well positioned to take advantage of growing demand for renewable energy-related products for cars, homes and offices. Citing this over the past three months, Panasonic shares have gained 13.2 percent, outperforming a 7 percent rise in the sub-index.