Panasonic Holdings Corporation · TSE:6752
Panasonic — Q1 2026 Earnings Presentation
36 slides from Panasonic's earnings presentation, Jul 30, 2025
Slide 1: Fiscal 2026 First Quarter Financial Results
Fiscal 2026 First Quarter Financial Results July 30, 2025 Panasonic Holdings Corporation Notes: 1. This is an English translation from the original presentation in Japanese. 2. In this presentation, “Fiscal 2026” or “FY3/26” refers to the year ending March 31, 2026.
Slide 2: Summary of FY3/26 1Q Financial Results
Summary of FY3/26 1Q Financial Results FY3/26 1Q Financial Results: Adjusted operating profit increased, even with including deconsolidation of Automotive ・ Sales: Increased in all segments, however overall sales decreased with deconsolidation of Automotive <Major increase/decrease factors> + : Ge
Slide 3: Fiscal 2026 Full-Year Financial Forecast
Fiscal 2026 First Quarter Financial Results Fiscal 2026 Full-Year Financial Forecast
Slide 4: FY3/26 1Q Financial Results
FY3/26 1Q Financial Results (yen: billions) YoY % figures represent the year-on-year change relative to the previous year's figures FY3/26 1Q FY3/25 1Q YoY Results Results Excl. Automotive*4 (year-on-year) Excl. Automotive*4 89% -225.0 102% +29.5 Sales 1,896.7 2,121.7 1,867.2 (93%)*5 (-153.5)*5 (105
Slide 5: FY3/26 1Q Results by Segment
FY3/26 1Q Results by Segment (yen: billions) YoY % figures represent the year-on-year change relative to the previous year's figures Adjusted Other YoY OP EBITDA*1 Sales OP YoY income/ YoY YoY YoY (excl. FX) (%) (%) (%) loss 98% 33.8 34.7 65.2 Lifestyle 846.1 (102%) 4.0% +11.5 0.9 -0.5 4.1% +11.0 7.
Slide 6: FY3/26 1Q Sales Analysis by Segment
FY3/26 1Q Sales Analysis by Segment Sales: Increased in all segments, however overall sales decreased with deconsolidation of Automotive (yen: billions) +36.1 +1.0 +9.0 +8.0 2,121.7 +26.6 +20.1 +13.7 1,896.7 -13.5 Housing Headquarter- Industry Industrial / Entertainment & -71.5 Lifestyle Connect Con
Slide 7: FY3/26 1Q Adjusted Operating Profit Analysis by Segment
FY3/26 1Q Adjusted Operating Profit Analysis by Segment Adjusted operating profit: Increased overall due to increased profit at all segments offsetting deconsolidation of Automotive +3.9 (yen: billions) +6.2 +11.5 +1.2 +1.0 Industrial / -7.0 91.5 84.3 Connect Industry In-vehicle Consumer, Other/ -9.
Slide 8: Lifestyle Segment: FY3/26 1Q Results by Divisional Company
Lifestyle Segment: FY3/26 1Q Results by Divisional Company (yen: billions) YoY % figures represent the year-on-year change relative to the previous year's figures Adjusted Other Sales YoY OP YoY income/ YoY OP YoY EBITDA*1 YoY (excl. FX) (%) (%) (%) loss Living Appliances and 96% 13.0 13.5 20.4 194.
Slide 9: FY3/26 1Q Operating Profit Analysis (by Factor)
FY3/26 1Q Operating Profit Analysis (by Factor) Operating profit: Increased due mainly to increased sales in real terms, despite impact of US tariffs and deconsolidation of Automotive, etc. (yen: billions) Price revisions, Sales increase/decrease Raw materials, rationalization, logistics etc. Impact
Slide 10: FY3/26 1Q Cash Flows and Cash Positions
FY3/26 1Q Cash Flows and Cash Positions Operating CF decreased YoY due mainly to deconsolidation of Automotive Cash Flows Gross cash & interest-bearing debt / Net cash (yen: billions) (yen: billions) 228.0 Gross cash*1 203.3 180.3 -194.3 915.0 813.9 (Excl. Automotive) Others Net cash: -653.2 Bonds,
Slide 11: Fiscal 2026 Full-Year Financial Forecast
Fiscal 2026 First Quarter Financial Results Fiscal 2026 Full-Year Financial Forecast
Slide 12: FY3/26 Full-Year Forecast (Unchanged from Forecast of May 9, 2025)
FY3/26 Full-Year Forecast (Unchanged from Forecast of May 9, 2025) (yen: billions) YoY % figures represent the year-on-year change relative to the previous year's figures FY3/26 (e) FY3/25 YoY Excl. Automotive*5 Excl. Automotive*5 92% -658.2 100% +15.0 Sales 7,800.0 8,458.2 7,785.0 (96%)*6 (-358.2)*
Slide 13: FY3/26 Outlook of Business Environment by Segment
FY3/26 Outlook of Business Environment by Segment Updates since the previous outlook analysis (May 2025) Positive (YoY) Segment Business Environment Negative (YoY) Consumer Electronics: Demand is expected to remain mostly flat in Japan, while demand is expected to remain at the same level YoY in C
Slide 14: Automotive Batteries: Sales Volume Trends and Future Outlook for Factories in North America
Automotive Batteries: Sales Volume Trends and Future Outlook for Factories in North America Due to market trends, it is necessary to assess the downside risk compared to initial forecasts, but we will leverage our relative competitive advantage in North America to ensure growth from the previous f
Slide 15: FY3/26 Full-Year Forecast Revision by Segment
FY3/26 Full-Year Forecast Revision by Segment (yen: billions) YoY % figures represent the year-on-year change relative to the previous year's figures Difference Adjusted Difference Other Difference Difference Difference YoY from from from OP from EBITDA*1 from Sales previous OP YoY previous income/
Slide 16: Lifestyle Segment: FY3/26 Full-Year Forecast by Divisional Company
Lifestyle Segment: FY3/26 Full-Year Forecast by Divisional Company (Unchanged from forecast of May 9, 2025) (yen: billions) YoY % figures represent the year-on-year change relative to the previous year's figures Other YoY Adjusted OP OP EBITDA*1 Sales YoY income/ YoY YoY YoY (excl. FX) (%) (%) (%) l
Slide 17: Panasonic Group
Panasonic Group
Slide 18: Disclaimer Regarding Forward-looking Statements
Disclaimer Regarding Forward-looking Statements This presentation includes forward-looking statements about Panasonic Holdings Corporation (the "Company") and its Group companies (the "Panasonic Group"). To the extent that statements in this presentation do not relate to historical or current facts,
Slide 19: Situation of Strategic Capital Alliance and Establishment of New Company of Projector Business, etc.
Reference: Situation of Strategic Capital Alliance and Establishment of New Company of Projector Business, etc. The strategic capital alliance agreement with ORIX Corporation concerning the projector business and related operations was mutually terminated in July 2025 Panasonic Projector & Displ
Slide 20: Impact of US Tariffs
Reference: Impact of US Tariffs Impact of US tariffs from FY3/26 2Q onward not yet factored into forecast; Continue to assess its developments going forward Considering the possibility of changes in the tariff, aiming to minimize impact of tariffs through measures from both short-term and medium
Slide 21: Impact of US IRA Tax Credit (Section 45X) on Financial Results
Reference: Impact of US IRA Tax Credit (Section 45X) on Financial Results Among monetization methods of “Deductible tax credit,” “Refundable tax credit (direct pay)” and “Transferable tax credit,” assuming to elect “Refundable tax credit (direct pay)” for FY3/26 Half of total tax credit amount r
Slide 22: Changes to US IRA Following Enactment of One Big Beautiful Bill Act (OBBBA)
Reference: Changes to US IRA Following Enactment of One Big Beautiful Bill Act (OBBBA) With the enactment of the US OBBBA in July 2025, Section 30D will be terminated on September 30, 2025 As for Section 45X, a stricter PFE (Prohibited Foreign Entity) eligibility requirement for FEOCs (Foreign E
Slide 23: Progress in EV Battery Production Capacity (As of July 30, 2025)
Reference: Progress in EV Battery Production Capacity (As of July 30, 2025) Maintain our policy of flexibly building production capacity in response to customer demand North • Started mass-production at Kansas factory (July 2025) America • Building production capacity by leveraging our achievements
Slide 24: Business Growth related to Generative AI
Reference: Business Growth related to Generative AI Generative AI related businesses continue to show strong growth Industry Energy Products: Energy storage systems Products: Conductive polymer capacitors (Electronic Devices) (Industrial / Consumer) Multi-layer circuit board materials Usage: D
Slide 25: FY3/26 1Q Segment Information Lifestyle
Reference: FY3/26 1Q Segment Information Lifestyle Overview Sales: Increased overall (excluding effect of exchange rates) due to increased (yen: billions) FY3/26 1Q YoY (year-on-year) sales of consumer electronics (Japan: at the same level, China: supported by subsidies); increased sales of HVAC (e.
Slide 26: FY3/26 1Q Segment Information Connect
Reference: FY3/26 1Q Segment Information Connect Sales: Increased due to increased sales of Process Automation, capturing Overview demand for ICT as well as EV in China, in addition to increased sales of (yen: billions) FY3/26 1Q YoY (year-on-year) Mobile Solutions, Gemba Solutions and Blue Yonder 1
Slide 27: Blue Yonder's KPIs
Reference: Blue Yonder’s KPIs Connect SaaS KPIs（SaaS sales ratio, SaaS ARR, SaaS NRR） show favorable results Sales / Adjusted OP (Stand alone) Recurring / SaaS sales ratio Steady growth of SaaS sales; adjusted OP was negative due to strategic SaaS ratio maintained above 50% due to increased SaaS
Slide 28: FY3/26 1Q Results of Blue Yonder
Reference: FY3/26 1Q Results of Blue Yonder Connect Forecast for adjusted EBITDA in FY3/26 remains unchanged from that of May 9, 2025; Adjusted EBITDA excluding the effect of exchange rates is expected to increase Breakdown of adjusted EBITDA (yen: billions) FY3/26 FY3/25 FY3/26 FY3/25 YoY YoY 1Q Re
Slide 29: FY3/26 1Q Segment Information Industry
Reference: FY3/26 1Q Segment Information Industry Overview Sales: Increased due to increased sales of products (capacitors, multi-layer YoY (year-on- PID circuit board materials) driven by increased demand for information & (yen: billions) FY3/26 1Q year) Products*1 communication applications such a
Slide 30: Situation of Voluntarily Disclosed Businesses (FY3/26 1Q) Electronic Devices
Reference: Situation of Voluntarily Disclosed Businesses (FY3/26 1Q) Industry Both sales and profit increased due to increased demand for ICT-related applications 2500 Electronic (e.g. generative AI servers, notebook PCs) 30.0 Devices Toward FY3/26 2H, need to closely monitor market environment
Slide 31: Electronic Devices: BB ratio of capacitors
Reference: Situation of Voluntarily Disclosed Businesses (FY3/26 1Q) Industry *BB ratio: book-to-bill ratio Electronic Devices: BB ratio* of capacitors Increased order received mainly for conductive capacitors with strong demand for generative AI servers Sales (yen: billions) Order received 70.0 Ord
Slide 32: Situation of Voluntarily Disclosed Businesses (FY3/26 1Q) FA Solutions
Reference: Situation of Voluntarily Disclosed Businesses (FY3/26 1Q) Industry * 3C: Consumer, Computer, Communication Sales increased due to steady domestic demand in China, mainly driven by 3C*-related application, despite market slowdown in US and Europe; profit increased due to increased sales
Slide 33: Situation of Voluntarily Disclosed Businesses (FY3/26 1Q) Electronic Materials
Reference: Situation of Voluntarily Disclosed Businesses (FY3/26 1Q) Industry Sales increased due to growing demand for generative AI servers as well as general-purpose Electronic servers; Regain double-digit adjusted OP margin through rationalization Materials Continue to strengthen production
Slide 34: FY3/26 1Q Segment Information Energy
Reference: FY3/26 1Q Segment Information Energy Sales: Overview In-vehicle: Decreased with price revisions reflecting lower raw material prices, despite (yen: billions) FY3/26 1Q YoY (year-on-year) increased sales volume at North America factory (+1.4GWh YoY) Industrial / Consumer: Increased with fa
Slide 35: New Business Structure of Lifestyle (effective April 1, 2026)
Reference: New Business Structure of Lifestyle (effective April 1, 2026) the primary successor Current Structure New Structure (effective April 1, 2026) Panasonic Corporation *1 Will be dissolved *1 Divisional company Living Appliances and Solution Company Divisional company Heating & Ventilation A/
Slide 36: FY3/26 List of Voluntarily Disclosed Businesses
Reference: FY3/26 List of Voluntarily Disclosed Businesses Lifestyle Businesses with Sales Disclosed Major Business Divisions, etc. (Panasonic Corporation) (For underlined businesses, Adjusted OP also disclosed in Supplemental Financial Data) Living Appliances and • Kitchen Appliances : Kitchen Appl