Margin Expansion on Rechargeable Battery Is not Fully Embedded to Panasonic's Current Share Price
We make minor updates to Panasonic’s earnings forecast, and revise our fair value estimate to JPY 2,000 from JPY 1,950. While we raised our growth assumption for the sales of appliances and housing equipment from Asian countries, we lowered the sales numbers from domestic market as we believe the domestic housing demand will stagnate after the consumption tax increase in Fall 2019 and for the Tokyo Olympics in Summer 2020. Overall, we consider that these factors will offset each other, and thus ...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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