Panasonic Holdings Corporation · TSE:6752
Panasonic — Q1 2027 Earnings Presentation
37 slides from Panasonic's earnings presentation, Jul 30, 2026
Slide 1: Fiscal 2027 First Quarter Financial Results
Fiscal 2027 First Quarter Financial Results July 30, 2026 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 ended March 31, 2026. In addition, “Fiscal 2027” or “FY3
Slide 2: Summary of FY3/27 1Q Financial Results
Summary of FY3/27 1Q Financial Results *1: Adjusting operating profit, operating profit, profit before income taxes • 1Q results: Marking the highest 1Q profit*1 due to higher sales of AI infrastructure-related businesses and adjacent businesses benefiting from growing data center demand, exceeding
Slide 3: Fiscal 2027 First Quarter Financial Results
Fiscal 2027 First Quarter Financial Results Fiscal 2027 Full- year Financial Forecast
Slide 4: FY3/27 1Q Financial Results
FY3/27 1Q Financial Results (yen: billions) YoY % figures represent the year-on-year change relative to the previous year's figures FY3/27 1Q FY3/26 1Q YoY Results Results (year-on-year) 106% +122.2 Sales 2,018.9 1,896.7 (100%)*4 (-3.8)*4 Adjusted OP*1 186.4 91.5 204% +94.9 (% to sales) (9.2%) (4.8%
Slide 5: FY3/27 1Q Results by Segment
FY3/27 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 116% 25.9 25.5 47.4 Connect 352.3 +19.7 -0.4 0.0 +19.7 +20.3 (107%) 7.3% 7.
Slide 6: FY3/27 1Q Sales Analysis by Segment
FY3/27 1Q Sales Analysis by Segment • Sales increased due to higher sales of Connect, Electric Works, HVAC & CC, Energy and Industry (yen: billions) +24.4 2,018.9 +22.4 +44.4 +126.0 +22.4 +22.3 -26.0 1,896.7 +21.8 Industrial / Industry HVAC & CC In-vehicle Consumer, Smart Life Connect Electric Works
Slide 7: FY3/27 1Q Adjusted Operating Profit Analysis by Segment
FY3/27 1Q Adjusted Operating Profit Analysis by Segment • Adjusted OP increased in all segments, particularly in Connect, Electric Works and Industry (yen: billions) +22.5 186.4 +24.4 +3.4 +14.2 +1.1 +13.2 Other/ +19.7 Smart Life 91.5 HVAC & CC -3.6 Industrial / Industry Eliminations Electric & Conn
Slide 8: FY3/27 1Q Operating Profit Analysis (by Factor)
FY3/27 1Q Operating Profit Analysis (by Factor) • OP increased due to increased sales in real terms, effect of restructuring, price revisions and rationalization, etc. Effect of (yen: billions) exchange Other Price revisions, income/loss rationalization, rates Fixed Blue Yonder Sales Raw materials,
Slide 9: FY3/27 1Q Cash Flows and Cash Positions
FY3/27 1Q Cash Flows and Cash Positions • Operating CF increased YoY increase due to monetization of US IRA tax credit (direct pay) Cash Flows Gross cash & interest-bearing debt / Net cash (yen: billions) (yen: billions) 372.0 *1 -139.6 Gross cash*2 995.7 846.5 232.4 180.3 -558.3 Net cash Bonds, etc
Slide 10: Fiscal 2027 Full-year Financial Forecast
Fiscal 2027 1Q Financial Results Fiscal 2027 Full-year Financial Forecast
Slide 11: FY3/27 Full-year Forecast
FY3/27 Full-year Forecast (yen: billions) YoY % figures represent the year-on-year change relative to the previous year's figures FY3/27 (e) FY3/27 (e) YoY (May 12, 2026) Revised amount FY3/26 Results (year-on-year) (July 30, 2026) Sales 7,800.0 7,600.0 +200.0 8,048.7 97% -248.7 (99%)*5 (-48.7)*5 Ad
Slide 12: FY3/27 Demand Changes by Segment
FY3/27 Demand Changes by Segment Major updates since the previous outlook analysis (May 2026) • Demand for adjacent businesses benefiting from data center demand (mounting machines, servo motors, sensors) exceeding expectations Positive (YoY) Segment Changes in Demand Negative (YoY) ✓ Supply chain:
Slide 13: FY3/27 Full-year Forecast by Segment
FY3/27 Full-year Forecast by Segment (yen: billions) YoY % figures represent the year-on-year change relative to the previous year's figures Adjusted Other YoY Revised Revised Revised OP Revised EBITDA*1 Revised Sales OP YoY income/ YoY YoY YoY (yen: billions) (excl. FX) amount (%) amount amount (%)
Slide 14: FY3/27 Full-year Operating Profit Forecast Analysis (by Factor)
FY3/27 Full-year Operating Profit Forecast Analysis (by Factor) *1: Expenses related to past manufacturing- process issues in In-vehicle batteries Sales Absence of Middle East Raw materials Price revisions, Effect of one-time situation & Other increase/ Fixed & rationalization, Blue Yonder exchange
Slide 15: Industry: AI-related Businesses
Industry: AI-related Businesses • 1Q results: Achieved sales above expectations driven by strong customer demand • Full-year forecast: Revised upward from initial forecast, reflecting demand trends, and enhanced supply capacity Sales for AI-related businesses (yen: billions) Key Initiatives FY3/27 1
Slide 16: Energy: Industrial / Consumer (For Data Centers)
Energy: Industrial / Consumer (For Data Centers) • On track to achieve FY3/27 sales forecast Underlined text：Updates since the FY3/26 • Steady progress in building supply capability to support future growth financial results announcement (May 12, 2026) Sales for data centers* (yen: billions) Key Ini
Slide 17: Energy: In-vehicle
Energy: In-vehicle ✓ 1Q: US EV sales volume recovered from downturn following the termination of IRA Section 30D tax credit, with recovery trend continuing; FY3/27 full-year outlook: EV sales volume expected to remain at the FY3/26 level ✓ Sales volume at North American factories fell short of plan
Slide 18: Panasonic Group
Panasonic Group
Slide 19: 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 20: Reference: Impact of US Tariffs and Refund Status
Reference: Impact of US Tariffs and Refund Status • Recorded 7.0 billion yen of US tariff refunds in FY3/27 1Q • Combined with impact of US tariffs, net impact in FY3/27 1Q was 0.2 billion yen • Refunds from FY3/27 2Q onward not yet factored in at this stage ■ Breakdown of impact of US tariffs on ad
Slide 21: Reference: 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 FY3/27 ✓ Half of total tax credit amount r
Slide 22: Reference: Overview of US Inflation Reduction Act (IRA)
Reference: Overview of US Inflation Reduction Act (IRA) ✓ With the enactment of the US OBBBA in July 2025, Section 30D was terminated on September 30, 2025 ✓ As for Section 45X, a stricter PFE (Prohibited Foreign Entity) eligibility requirement for FEOCs (Foreign Entities of Concern) will be impleme
Slide 23: Progress in Developing Production Capabilities in Energy
Reference: Progress in Developing Production Capabilities in Energy • Flexibly build production capacity in response to customer demand • Utilize production facilities for data center (DC) applications in response to strong demand Battery cell Factory Production capabilities Status In-vehicle As of
Slide 24: Reference: Product Deployment Areas in AI Data Centers
Reference: Product Deployment Areas in AI Data Centers Data Centers AI Server Systems PSU *1 Server Boards Package Power Distribution 48V 12 or 5V ≦ 1V Equipment AC/DC DC/DC DC/DC GPU UPS CPU * Power Supply Unit Conductive Polymer Capacitors Peripheral Equipment Circuit Board Materials (Within the D
Slide 25: FY3/27 1Q Segment Information: Connect
Reference: FY3/27 1Q Segment Information Connect Sales increased: Higher sales of Process Automation (e.g., mounting machines by Overview YoY % figures represent the year-on-year change relative to the previous year's figures capturing demand for ICT including AI servers), Avionics and Blue Yonder (
Slide 26: Reference: Blue Yonder's KPIs
Reference: Blue Yonder’s KPIs Connect • Favorable Trends in SaaS-related KPIs (SaaS ARR and NRR) Sales / Adjusted OP (Stand-alone) RPO (Remaining Performance Obligation) ◼ Profitability improved due to improved gross margin, in addition to ◼ SaaS bookings significantly increased by 28% YoY, driven b
Slide 27: Reference: FY3/27 1Q Results for Blue Yonder
Reference: FY3/27 1Q Results for Blue Yonder Connect • Adjusted operating profit forecast revised upward by USD 30 million, due to an improved gross margin (stand-alone basis) and reduced strategic investments ■ Blue Yonder Stand-Alone Basis （US$: millions） FY3/27 FY3/26 FY3/27 (e) Revised FY3/26 FY
Slide 28: FY3/27 1Q Segment Information: Electric Works
Reference: FY3/27 1Q Segment Information Electric Works Overview YoY % figures represent the year-on-year change relative to the previous year's figures Sales increased： Higher sales of electrical construction materials in Japan and overseas markets (e.g., India), supported by steady demand. Sales i
Slide 29: FY3/27 1Q Segment Information: HVAC & CC
Reference: FY3/27 1Q Segment Information HVAC & CC Sales increased overall: Overview YoY % figures represent the year-on-year change relative to the previous year's figures HVAC: higher sales of room air-conditioners (Japan: special demand by energy-efficiency regulations, Asia: recovery from weak d
Slide 30: FY3/27 1Q Segment Information: Energy
Reference: FY3/27 1Q Segment Information Energy Sales increased (In-vehicle): Higher sales at North American factories and price Overview YoY % figures represent the year-on-year change relative to the previous year's figures revisions, etc. Sales increased (Industrial / Consumer): Higher sales of e
Slide 31: FY3/27 1Q Segment Information: Industry
Reference: FY3/27 1Q Segment Information Industry Overview YoY % figures represent the year-on-year change relative to the previous year's figures Sales increased: Higher sales of AI infrastructure related products (capacitors, YoY PID multi-layer circuit board materials) and FA equipment (servo mot
Slide 32: Situation of Voluntarily Disclosed Businesses: Electronic Devices
Reference: Situation of Voluntarily Disclosed Businesses (FY3/27 1Q) Industry ◼ Sales and profit increased both YoY and QoQ, driven by favorable demand for Electronic conductive polymer capacitors for AI infrastructure applications Devices ◼ Expanded production capacity for conductive polymer capaci
Slide 33: Electronic Devices: BB ratio of capacitors
Reference: Situation of Voluntarily Disclosed Businesses (FY3/27 1Q) Industry Electronic Devices: BB ratio* of capacitors *BB ratio: book-to-bill ratio • Sales of conductive polymer capacitors continued to increase, driven by AI demand • Expand production capacity ahead of schedule to meet rapidly i
Slide 34: Situation of Voluntarily Disclosed Businesses: FA Solutions
Reference: Situation of Voluntarily Disclosed Businesses (FY3/27 1Q) Industry ◼ Sales and profit increased due to higher sales driven by favorable demand for semiconductor FA manufacturing equipment and continuous management structure enhancement Solutions ◼ Strengthening supply capabilities to reli
Slide 35: Situation of Voluntarily Disclosed Businesses: Electronic Materials
Reference: Situation of Voluntarily Disclosed Businesses (FY3/27 1Q) Industry ◼ Continued trend of sales and profit growth, supported by growing demand for AI Electronic infrastructure applications Materials ◼ Making investments to strengthen supply capacity in response to continued demand growth Sa
Slide 36: FY3/27 1Q Segment Information: Smart Life
Reference: FY3/27 1Q Segment Information Smart Life Overview YoY % figures represent the year-on-year change relative to the previous year's figures Sales decreased：Lower overseas sales (e.g., China: weak demand for large-sized appliances; Europe: lower sales of AVC), despite higher sales of persona
Slide 37: FY3/27 List of Voluntarily Disclosed Businesses
Reference: FY3/27 List of Voluntarily Disclosed Businesses Note: Sales and adjusted operating profit of the businesses shown with both underline and bold are disclosed in the Supplemental Financial Data Businesses with Sales Disclosed Major Business Divisions, etc. • Avionics : Panasonic Avionics Co