Selective concentration in unprofitable businesses and continued structural reform

「As a result of optimizing our global headcount through Group management reforms and other measures implemented in the fiscal year ended March 2026, we recorded ¥157.4 billion in early-retirement benefits as other expenses.」

「During fiscal 2025, we will determine the direction of challenged businesses, defined as businesses whose ROIC (return on invested capital) is below their business-specific WACC (weighted average cost of capital) and that have limited growth potential, as well as businesses requiring a decision on whether to rebuild them or determine their strategic business location.」

「In income tax expense for the cumulative first quarter, we recognized a ¥121,348 million decrease based on our Board of Directors’ resolution at its meeting held on 31 July 2023 to dissolve our consolidated subsidiary Panasonic Liquid Crystal Display Co., Ltd. (hereinafter, “PLD”), file a petition to commence special liquidation proceedings, and have Panasonic Investment Management (GK), another consolidated subsidiary, waive its claims against PLD.」

「Despite the impact of higher raw material costs and other factors, operating profit increased year on year to ¥65.2 billion, up 142% from the same period of the previous year, due to higher sales and the effects of structural reforms.」

「As part of efforts to improve profitability, we completed the transfer of the semiconductor business to Nuvoton Technology Corporation, a subsidiary of Taiwan-based Winbond Electronics Corporation, in September of that year. In the solar business, to optimize our development and production structure, we halted production of solar cells and modules at the Buffalo Plant in New York in June of that year and completed our withdrawal in September. In February 2021, we announced a policy of withdrawing from in-house production of residential, public-sector and industrial solar cells during fiscal 2021.」

「As part of efforts to improve profitability, we completed the transfer of the semiconductor business to Nuvoton Technology Corporation, a subsidiary of Taiwan-based Winbond Electronics Corporation, in September of that year. In the solar business, to optimize our development and production structure, we halted production of solar cells and modules at the Buffalo Plant in New York in June of that year and completed our withdrawal in September.」

「To improve profitability, we decided to transfer the semiconductor business, which faces extremely intense competition, to Nuvoton Technology Corporation, a subsidiary of Taiwan-based Winbond Electronics Corporation, where sustainable business growth is expected and where our accumulated technological capabilities and product strengths can be used to the fullest. We also decided to end production by 2021 in the liquid-crystal panel business, where global competition has intensified further.」

「In November 2019, we decided to end liquid-crystal panel production by 2021 and transfer the semiconductor business to Nuvoton Technology Corporation, a subsidiary of Taiwan-based Winbond Electronics Corporation.」

「The liquidation of MT映像ディスプレイ㈱ was completed in May 2019.」

「On 9 May 2019, we entered into an integration agreement and a joint venture agreement with TOYOTA MOTOR CORPORATION for the establishment of a joint venture relating to urban development.」

「At a meeting of our Board of Directors held on 9 May 2019, we resolved to approve cooperation in the solar cell business with GS-Solar (China) Company Ltd., a Chinese solar cell manufacturer. We will transfer Panasonic Energy Malaysia Co., Ltd., our solar cell business subsidiary, and establish a new company by separating our solar cell research and development functions. We will jointly capitalize and operate the new company with GS Solar, with GS Solar holding a 90% stake and Panasonic holding 10%.」

「In the solar business, in addition to our existing module sales, we began selling cells as standalone devices and reviewed our module production structure, including ending production at the Shiga Plant.」

「In the solar business, we will begin selling cells as standalone devices during fiscal 2017, in addition to our previous sales of modules only. We will also review our global module production structure, including ending production at the Shiga Plant at the end of March 2018.」

「Other gains and losses amounted to a loss of ¥75.2 billion, compared with a loss of ¥191.4 billion in the previous fiscal year, mainly because expenses related to business structural reforms and litigation involving secondary batteries and cathode-ray tubes declined.」

「At a meeting of our Board of Directors held on 31 October 2016, we resolved to dissolve our consolidated subsidiary Panasonic Plasma Display Co., Ltd. (hereinafter, “PPD”), file a petition to commence special liquidation proceedings, and waive our claims against PPD.」

「Businesses targeted for earnings improvement are those where sales growth is difficult to achieve. Rather than pursuing sales, the company will focus rigorously on improving profit margins.」