Impressive AIS Segment Sales Growth Suggests Future Margin Expansion; Panasonic Shares Undervalued
Although Panasonic did not revise its full-year operating profit guidance, we consider that its September results were encouraging for two major reasons: 1) Panasonic estimates OP for the quarter increased 46% on a year-on-year basis, excluding the effect of one-time factors; and 2) the automotive and industrial systems segment showed 15.3% revenue growth on a year-on-year basis, while infotainment systems grew 18.7%. Because of the uncertainty on the production yield problem of Tesla Model 3, P...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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