Panasonic Q3 report 2023

For the nine months ended December 31, 2022, the Company’s consolidated group sales increased by 15% to 6,224.5 billion yen from a year ago. This is due to increased sales of such products as A2W (Air to Water, hot water heat pump system), automotive batteries, and automotive systems & components reflecting the recovery of automobile production as well as to the new consolidation of Blue Yonder and the effect of currency translation, despite the impact on production & sales caused by shortages in semiconductor and parts & materials.

Operating profit decreased by 15% to 234.2 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 9% to 255.4 billion yen and net profit attributable to Panasonic Holdings Corporation stockholders decreased by 17% to 162.9 billion yen from a year ago.