Panasonic Q1 Report 2023

For the three months ended June 30, 2022, the Company’s consolidated group sales increased by 10% to 1,973.9 billion yen from a year ago. This is due to increased sales of products such as automotive batteries, the new consolidation of Blue Yonder as well as the effect of exchange rates, despite the impact on production & sales caused by Shanghai lockdown and shortage in semiconductor and parts & materials.

Operating profit decreased by 39% to 63.7 billion yen from a year ago. This is due mainly to the impact of Shanghai lockdown, shortage in semiconductor and parts & materials, price hikes in raw materials, despite increased sales and efforts such as price revisions. Profit before income taxes decreased by 32% to 73.5 billion yen and Net profit attributable to Panasonic Holdings Corporation stockholders decreased by 36% to 48.9 billion yen from a year ago.