Solid Fundamentals Will Absorb the Stagnation of Tesla Model 3; Retain Panasonic FVE of JPY 1,950
We are impressed with Panasonic for raising its operating income guidance to JPY 350 billion from JPY 335 billion for fiscal 2018 (financial year ending March 2018). The company lowered its forecast for the Automotive and Industrial Systems segment, or AIS, because of: 1) lower shipment of rechargeable batteries due to the production delay of Tesla Model 3; and 2) production yield issue on infotainment systems. Meanwhile, battery demand from other auto manufacturers and power tools, and robust ...
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