Panasonic Full-Year Report 2023

The Company’s consolidated group sales for fiscal 2023 increased by 13% to 8,378.9 billion yen from a year ago. This is due to increased sales of such products as A2W, automotive systems & components reflecting the recovery of automobile production, and EV batteries as well as to the new consolidation of Blue Yonder Holding, Inc. (“Blue Yonder”) and the effect of currency translation, despite the impact on production & sales caused by shortages in semiconductors.

Operating profit decreased by 19% to 288.6 billion yen from a year ago. This is due mainly to the impact of price hikes in raw materials and increased fixed costs, despite increased sales and efforts such as price revisions. In addition, the impact of one-off gain in the previous year was a factor of the decrease. Profit before income taxes decreased by 12% to 316.4 billion yen and net profit attributable to Panasonic Holdings Corporation stockholders increased by 4% to 265.5 billion yen from a year ago.