Shift from a ¥10 trillion sales growth target to profit growth

「Fiscal year ending March 2027 First quarter 2,018,914 6.4 182,455 110.0 188,947 107.7 139,490 81.0 135,173 89.2」

「Consolidated sales for the fiscal year were ¥8.0487 trillion, down 5% year on year. Operating profit was ¥236.4 billion, down 45% year on year, and profit before tax was ¥263.1 billion, down 46% year on year.」

「Operating profit was ¥236.4 billion, down 45% year on year, and profit before tax was ¥263.1 billion, down 46% year on year.」

「Consolidated sales for the six months ended the current interim period were ¥3.8205 trillion, down 10% year on year. … Operating profit was ¥165.0 billion, down 24% year on year; profit before tax was ¥177.9 billion, down 29%; and profit for the six months attributable to owners of the parent was ¥142.4 billion, down 25%, with each measure declining.」

「Operating profit was ¥426.5 billion, up 18% year on year, and profit before tax was ¥486.3 billion, up 14% year on year. … Profit for the year attributable to owners of the parent was ¥366.2 billion, down 18% year on year.」

「Consolidated sales for the six months ended the current interim period were ¥4.2513 trillion, up 3% year on year. Operating profit was ¥216.0 billion, up 12% year on year, and profit before tax was ¥251.0 billion, up 12% year on year. Despite increased fixed costs due to inflation and higher strategic investment, profit increased owing to progress in rationalization and improvements in the share of profit or loss of investments accounted for using the equity method and other income and expenses. Profit for the six months attributable to owners of the parent was ¥188.9 billion, down 34% year on year.」

「Consolidated sales for the fiscal year were ¥8.4964 trillion, up 1% year on year. … Operating profit was ¥361.0 billion, up 25% year on year. Despite the impact of higher fixed costs from strategic investments and higher raw material prices, profit increased owing to progress in price revisions and rationalization, the impact of foreign exchange and the recognition of subsidies under the U.S. Inflation Reduction Act.」

「Consolidated sales for the nine months ended the third quarter of the current fiscal year were ¥6.3003 trillion, up 1% year on year. Although Industry recorded a significant decline in sales, overall sales increased owing to higher sales of Automotive, Connect and automotive batteries, as well as the impact of foreign exchange translation. Operating profit was ¥320.3 billion, up 37% year on year, and profit before tax was ¥368.8 billion, up 44% year on year. Despite the impact of higher fixed costs from strategic investments and higher raw material prices, profit increased owing to progress in price revisions and rationalization, the impact of foreign exchange, and the recognition of U.S. IRA subsidies (see Note 8, “Supplementary Information,” to the condensed quarterly consolidated financial statements). In addition to the above, profit for the nine months attributable to owners of the parent increased significantly to ¥399.2 billion, up 145% year on year, owing to a reduction in income tax expense following the decision to dissolve Panasonic Liquid Crystal Display Co., Ltd. through special liquidation and waive claims against the company (see Note 8, “Supplementary Information,” to the condensed quarterly consolidated financial statements).」

「Operating profit was ¥192.8 billion, up 29% year on year, and profit before tax was ¥224.3 billion, up 35% year on year. Despite the impact of higher fixed costs from strategic investments and higher raw material prices, profit increased owing to progress in price revisions and rationalization, the impact of foreign exchange, and the recognition of subsidies under the U.S. Inflation Reduction Act (hereinafter, “U.S. IRA subsidies”) (see Note 8, “Supplementary Information,” to the condensed quarterly consolidated financial statements). In addition to the above, profit for the quarter attributable to owners of the parent increased significantly to ¥288.4 billion, up 169% year on year, owing to a reduction in income tax expense following the decision to dissolve Panasonic Liquid Crystal Display Co., Ltd. through special liquidation and waive claims against the company (see Note 8, “Supplementary Information,” to the condensed quarterly consolidated financial statements).」

「Consolidated sales for the three months ended the first quarter of the current fiscal year were ¥2.0297 trillion, up 3% year on year. Although Industry recorded a significant decline in sales, overall sales increased owing to higher sales of Automotive, Connect and automotive batteries, as well as the impact of foreign exchange translation. Operating profit was ¥90.4 billion, up 42% year on year, and profit before tax was ¥108.7 billion, up 48% year on year. Despite the impact of higher fixed costs from strategic investments and higher raw material prices, profit increased owing to the effect of higher sales, progress in price revisions and rationalization, and the recognition of U.S. IRA subsidies.」

「Consolidated sales for the fiscal year were ¥8.3789 trillion, up 13% year on year. … Operating profit was ¥288.6 billion, down 19% year on year.」

「Consolidated sales for the nine months ended the third quarter of the current fiscal year were ¥6.2245 trillion, up 15% year on year. Although semiconductor and component shortages affected production and sales, sales increased owing to higher sales of heat-pump water-heating systems (A2W), automotive batteries and automotive equipment as automobile production recovered, as well as the consolidation of Blue Yonder Holding, Inc. (hereinafter, “Blue Yonder”) and the impact of foreign exchange translation. Operating profit was ¥234.2 billion, down 15% year on year. The impact of higher raw material prices and fixed costs could not be offset by the effect of higher sales and initiatives such as price revisions, and profit declined, also reflecting the reversal of one-time gains recorded in the previous year. Profit before tax was ¥255.4 billion, down 9% year on year, while profit for the nine months attributable to owners of the parent was ¥162.9 billion, down 17% year on year.」

「Consolidated sales for the six months ended the second quarter of the current fiscal year were ¥4.0639 trillion, up 15% year on year. Although semiconductor and component shortages affected production and sales, sales increased owing to higher sales of heat-pump water-heating systems (A2W) and automotive batteries, as well as the consolidation of Blue Yonder Holding, Inc. (hereinafter, “Blue Yonder”) and the impact of foreign exchange translation. Operating profit was ¥149.8 billion, down 26% year on year. The impact of higher raw material prices and fixed costs could not be offset by the effect of higher sales and initiatives such as price revisions, and profit declined, also reflecting the reversal of one-time gains recorded in the previous year. Profit before tax was ¥166.6 billion, down 19% year on year, while profit for the six months attributable to owners of the parent was ¥107.3 billion, down 30% year on year.」

「Consolidated sales for the three months ended the first quarter of the current fiscal year were ¥1.9739 trillion, up 10% year on year. Although the Shanghai lockdown and semiconductor and component shortages affected production and sales, sales increased owing to higher sales of automotive batteries and other products, the consolidation of Blue Yonder Holding, Inc. (hereinafter, “Blue Yonder”) and the impact of foreign exchange. Operating profit was ¥63.7 billion, down 39% year on year. The impact of the Shanghai lockdown, semiconductor and component shortages, and higher raw material prices could not be offset by the effect of higher sales and initiatives such as price revisions, resulting in lower profit.」

「Consolidated sales for the fiscal year were ¥7.3888 trillion, up 10% year on year. … Operating profit was ¥357.5 billion, up 38% year on year.」

「Consolidated sales for the nine months ended the third quarter of the current fiscal year were ¥5.4234 trillion, up 11% year on year. … Operating profit was ¥274.2 billion, up 21% year on year. Despite the impact of higher raw material prices and other factors, profit increased owing to the effect of higher sales and the recognition of a revaluation gain on existing holdings in Blue Yonder. Profit before tax was ¥279.4 billion, up 27% year on year, while profit for the nine months attributable to owners of the parent was ¥195.6 billion, up 50% year on year.」

「Consolidated sales for the six months ended the second quarter of the current fiscal year were ¥3.5336 trillion, up 16% year on year. Domestic sales increased, led by surface-mount machines for process automation and other products. Overseas sales also increased, driven by higher sales of automotive batteries in response to increased demand and systems and devices that grew in response to social changes. Operating profit was ¥201.2 billion, up 108% year on year. Despite the impact of higher raw material prices and other factors, profit increased owing to the effect of higher sales and the recognition of a revaluation gain on existing holdings following the consolidation of Blue Yonder. Profit before tax was ¥205.8 billion, up 121% year on year, while profit for the six months attributable to owners of the parent was ¥153.0 billion, up 213% year on year.」

「Consolidated sales for the three months ended the first quarter of the current fiscal year were ¥1.7924 trillion, up 29% year on year. … Operating profit was ¥104.4 billion, compared with profit of ¥3.8 billion in the same period of the previous year. Profit increased owing to the effect of higher sales and thorough cost management. … Profit for the quarter attributable to owners of the parent was ¥76.5 billion, compared with a loss of ¥9.8 billion in the same period of the previous year.」

「Consolidated sales for the fiscal year were ¥6.6988 trillion, down 11% year on year. Operating profit was ¥258.6 billion, down 12% year on year. … Profit for the year attributable to owners of the parent was ¥165.1 billion, compared with ¥225.7 billion in the previous fiscal year.」

「Consolidated sales for the nine months ended the third quarter of the current fiscal year were ¥4.8733 trillion, down 15% year on year. Operating profit was ¥226.8 billion, down 6% year on year. Profit before tax was ¥220.1 billion, down 8% year on year, while profit for the nine months attributable to owners of the parent was ¥130.1 billion, down 27% year on year.」

「Consolidated sales for the six months ended the second quarter of the current fiscal year were ¥3.0592 trillion, down 20% year on year. Domestic sales declined despite higher sales of air purifiers and other products, owing to the impact of the spread of COVID-19 and the deconsolidation of the housing-related business. Overseas sales also declined. Sales of surface-mount machines for process automation, energy storage systems for information and communications infrastructure, and industrial motors increased, but the impact of the spread of COVID-19 was significant. Operating profit was ¥96.6 billion, down 31% year on year. Although fixed-cost reductions to strengthen the management base and efforts to improve profitability in the automotive business had an effect, profit declined because of the significant impact of losses from lower sales. Profit before tax was ¥93.2 billion, down 32% year on year, while profit for the six months attributable to owners of the parent was ¥48.9 billion, down 52% year on year.」

「Consolidated sales for the three months ended the first quarter of the current fiscal year were ¥1.3919 trillion, down 26% year on year. Operating profit was ¥3.8 billion, down 93% year on year. Profit before tax was ¥3.1 billion, down 95% year on year, while the quarterly loss attributable to owners of the parent was ¥9.8 billion, compared with profit of ¥49.8 billion in the same period of the previous year.」

「Consolidated sales for the fiscal year were ¥7.4906 trillion, down 6% year on year. Operating profit was ¥293.8 billion, down 29% year on year.」

「Operating profit was ¥240.7 billion, down 18% year on year.」

「The six months ended the second quarter of the current fiscal year resulted in declines in both revenue and profit. Consolidated sales were ¥3.8444 trillion, down 4% year on year. Operating profit was ¥140.3 billion, down 28% year on year.」

「With fiscal 2019 as the first year of its new medium-term strategy, the Group is implementing business portfolio reforms and seeking future profit growth and improved profitability.」

「Specifically, from fiscal 2021, the final year of the new medium-term strategy, we aim to manage the Group so that it can consistently achieve EBITDA growth of 5–10% and an EBITDA margin of at least 10% in its core businesses, and ROE of at least 10% on a company-wide basis.」

「Against this management backdrop, we are pursuing strategies for sustainable growth while clarifying the areas in which we will concentrate our management resources.」

「Against this management backdrop, we are pursuing strategies for sustainable growth while clarifying the areas in which we will concentrate our management resources.」

「The Group is pursuing strategies for sustainable growth while clarifying the areas in which it will concentrate its management resources. During the first quarter of the current fiscal year, we again achieved increases in both revenue and profit, following the previous consolidated fiscal year. Consolidated sales were ¥2.0087 trillion, up 8% year on year. Operating profit was ¥100.0 billion, up 19% year on year.」

「We have targets for operating profit and net profit for fiscal 2018 as our corporate management goals. To achieve these targets and sustain growth thereafter, in fiscal 2017 we pursued a growth strategy to achieve and establish increases in both revenue and profit.」

「The ¥10 trillion sales target for fiscal 2018, which we set with sales growth as our primary focus, and the annual sales targets leading up to it, fell short from the first year, fiscal 2015. In light of this situation, we have reviewed the ¥10 trillion sales target for fiscal 2018 and decided to accelerate initiatives focused on profit growth, in order to clarify further our management philosophy of continuing to create value for customers.」