Cut Panasonic’s FVE to JPY 1,850 because of weak Appliances, but battery will drive its share in 2H
While Panasonic retained its operating income guidance for this fiscal year of JPY 425 billion, it materially lowered its profit guidance from four major business segments by JPY 49 billion, which is below our forecast. The appliances segment cut down its revenue and profit guidance because of the intense competition of air conditioners and flat panel televisions, and the eco solutions segment dropped numbers owing to the slowdown on the domestic housing market, which were both in line with our ...Panasonic offers a range of products, systems and components for consumer, business and industrial use based on electronics and precision technology, expanding to building materials and equipment, and housing business. Co. divides its businesses into five segments: Appliances, Eco Solutions, Connected Solutions, Automotive & Industrial Systems and Other. Co.'s principal products include home appliances such as refrigerators, room air conditioners, washing machines and vacuum cleaners; lighting fixtures and electric lamps, video and audio equipment, electrical components, batteries, semiconductors and optical devices.
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