Panasonic Holdings today announced the second quarter (2024 fiscal year quarter) earnings data, driven by the depreciation of the yen and strong sales in the automotive and energy sectors, the company’s last quarterly operating profit reached 90.37 billion yen (Currently about RMB 4.6 billion), slightly lower than 11 analysts previously estimated at 91.18 billion yen (current about RMB 4.641 billion), but still achieved a substantial increase of 42%. RMB 4.641 billion), but still achieved a substantial growth of 42%.
Source: Panasonic Energy website
In addition, Panasonic Energy, Panasonic’s unit responsible for automotive battery production, said today that it has begun talks with Japanese automaker Subaru to establish a battery supply partnership for electric vehicles, in which Panasonic would supply Subaru with cylindrical lithium batteries for vehicles.
Panasonic, whose business spans consumer electronics, transportation robots, sensor cameras and self-checkout systems, maintained its full-year earnings estimate at 430 billion yen (currently about RMB 21.887 billion), compared with the previous average forecast of 413.96 billion yen (currently about RMB 21.071 billion) by 20 analysts.
Panasonic Energy chief technology officer Shoichiro Watanabe said last month, Panasonic Energy to 2030 fiscal year need to build about four new factories to meet the growing demand for electric vehicle batteries. Panasonic Energy currently supplies batteries mainly to U.S. electric car Tesla and is also in talks with Mazda. Panasonic plans to quadruple its automotive battery production capacity to 200 GWh by fiscal 2030, compared with fiscal 2022.