Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

Panasonic (6752) | Following the Yellow Brick Road to Battery Profits

Panasonic (6752) | Eyes Record Profit as Battery Business Shines

Equity Bottom-Up

<ul>
<li>Panasonic's Q2 results showed flat consolidated sales of Y2,090 billion, with a 24% YoY increase in adjusted operating profit.</li>
<li>FY3/24 outlook was revised down with sales and operating profit reductions across segments, notably in Lifestyle and Energy</li>
<li>Our concerns include the company's complex structure, low overall profitability, uncertainties about valuing IRA credits, and challenges stemming from economic conditions, leading to pessimism about Panasonic's stock price</li>
</ul>


Panasonic's Q2 results showed flat consolidated sales of Y2,090 billion, with a 24% YoY increase in adjusted operating profit.
FY3/24 outlook was revised down with sales and operating profit reductions across segments, notably in Lifestyle and Energy
Our concerns include the company's complex structure, low overall profitability, uncertainties about valuing IRA credits, and challenges stemming from economic conditions, leading to pessimism about Panasonic's stock price


Panasonic Corp

Panasonic (6752) | Panic-Sonic