6752.T - Panasonic Corporation

Tokyo - Tokyo Delayed Price. Currency in JPY
959.00
+2.60 (+0.27%)
At close: 3:15PM JST
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Previous Close956.40
Open955.00
Bid958.60 x 0
Ask960.10 x 0
Day's Range954.00 - 969.60
52 Week Range691.70 - 1,264.00
Volume7,571,600
Avg. Volume11,198,223
Market Cap2.237T
Beta (5Y Monthly)1.27
PE Ratio (TTM)9.92
EPS (TTM)96.70
Earnings DateJul. 29, 2020 - Aug. 03, 2020
Forward Dividend & Yield30.00 (3.14%)
Ex-Dividend DateMar. 30, 2020
1y Target Est1,450.90
  • Panasonic and Olympian Katie Ledecky to Host Online STEAM Education Workshop to Inspire Next Generation of "Change Makers" Children
    Business Wire

    Panasonic and Olympian Katie Ledecky to Host Online STEAM Education Workshop to Inspire Next Generation of "Change Makers" Children

    Panasonic and Olympian Katie Ledecky will host an online workshop called "The power to create the future" to promote STEAM education.

  • Panasonic and Blue Yonder Extend Strategic Partnership to Accelerate the Autonomous Supply Chain
    Business Wire

    Panasonic and Blue Yonder Extend Strategic Partnership to Accelerate the Autonomous Supply Chain

    Panasonic is making an equity investment in Blue Yonder, which will further accelerate activities for both companies in Japan.

  • Panasonic sees strong demand from Tesla, in talks to expand Nevada battery plant
    Reuters

    Panasonic sees strong demand from Tesla, in talks to expand Nevada battery plant

    Panasonic Corp's <6752.T> finance chief said the company is seeing strong demand for battery cells from U.S. partner Tesla <TSLA.O> and they are in talks to expand their joint plant in Nevada, which is now profitable. The positive outlook comes after production troubles and delays at Tesla strained the company's partnership with Panasonic over the past few years. Panasonic recently lost its status as Tesla's exclusive battery supplier, but has been able to turn around the U.S. joint battery business as demand for Tesla's electric cars soar.

  • GoPro (GPRO) Q1 Earnings Meet Estimates, Withdraws 2020 View
    Zacks

    GoPro (GPRO) Q1 Earnings Meet Estimates, Withdraws 2020 View

    Despite COVID-19 pandemic, factors like effective channel inventory management, direct-to-consumer operating model and accretive subscriber base drive GoPro's (GPRO) first-quarter 2020 results.

  • Dolby (DLB) Misses Q2 Earnings Estimates, Withdraws View
    Zacks

    Dolby (DLB) Misses Q2 Earnings Estimates, Withdraws View

    Despite the COVID-19 pandemic, Dolby's (DLB) second-quarter fiscal 2020 results benefit from higher Licensing revenues as well as increased adoption of Dolby Vision and Dolby Atmos technology.

  • Bloomberg

    Panasonic Cuts Sales Outlook by $2.3 Billion Citing Virus Impact

    (Bloomberg) -- Panasonic Corp. trimmed its annual revenue outlook by 250 billion yen ($2.3 billion) after the coronavirus outbreak depressed sales of appliances, electronics and automotive parts.Sales will total 7.45 trillion yen in the year ended March 31, 3.2% short of the company’s earlier forecast, Panasonic said in a statement on Monday. The electronics manufacturer kept its operating income outlook unchanged at 300 billion yen and said its net income will exceed own estimate by 10 billion yen because of a more favorable tax situation.Key InsightsThe household appliance business took a hit from shelter-at-home orders in Europe and Asia and shortages of parts made in China, undercutting sales of air conditioners and washing machines.Sales of projectors and professional audio-visual equipment suffered from a slump in demand in China and event cancellations in Europe and the U.S.Automotive business revenue was dented by car-factory stoppages around the world.Panasonic said all 85 of its production and distribution subsidiaries in China and Northeast Asia are now operational.The company’s cash and equivalents totaled 1 trillion yen. It has also secured a 700 billion yen commitment line from multiple financial institutions.Chief Executive Officer Kazuhiro Tsuga will address the impact of the pandemic on the company’s mid-term plan at a separate briefing.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    Hedge Funds Will Be Collateral Damage in Japan

    (Bloomberg Opinion) -- So long, activists. No one’s giving you any cash back, at least not anytime soon.Companies and investors alike are stashing money as Covid-19 throws an uncertain future across the global economy. Liquidity is front of mind. Automakers and retailers in the U.S. have drawn down billions of dollars on their credit lines to deal with impending shortages. But Japan Inc. has an opportunity — to show hedge funds that have criticized serial cash hoarding and ineffective use of balance sheets that it’s had a point.Piles of idle funds made Japan’s companies a target for global activists, including Paul Singer’s Elliott Management Corp. and Dan Loeb’s Third Point LLC. Tokyo’s stock market has become their highest priority outside the U.S. At the end of last year, activists held 3.4 trillion yen ($31.1 billion) of Japanese stock, doubled from the start of a state-led push for corporate governance reform in 2015.Now, cash on the books looks like a strategic asset rather than a drag. When this crisis ends, there will be great need for capital. Prime Minister Shinzo Abe is incentivizing companies to retool supply chains away from China, the nerve center of world manufacturing. The likes of electronics giant Panasonic Corp. and auto-parts maker Aisin Seiki Co. say they’re looking at options.Setting up new factories and logistics operations doesn’t happen without significant investment. Meanwhile, Japan’s perennial labor shortages, worsened by the pandemic, will mean more expenditure toward machines and automation. Inorganic growth via mergers and acquisitions will be on the back burner until losses are covered. Capital may also be redirected toward virus-related relief, such as producing ventilators.  So far, a big portion of Japan Inc.’s cash has been put toward capital expenditure and research and development, with much smaller though increasing amounts for dividends and buybacks. Total payout ratios relative to operating cash flows are near 20%, compared to 60% in the U.S. Around half of non-financial companies have more liquidity than interest-bearing debt, versus closer to one-fifth in America or Europe. Only activist pressure has slowly shifted companies that far.Hoarding is rooted in previous crises. Japanese companies, which typically rely less on external financing, have a chronic desire for cushions to survive cycles in an economy that’s always verging on a dip in growth. After the global financial crisis and the 2011 earthquake and tsunami, they resumed building balances to far higher levels than in other developed countries.So activists zeroed in. Cash used for growth and returns as a portion of shareholder equity was around 20.5% as of last year, below the post-financial crisis average. Different companies hold their piles for varying reasons: small ones as a precaution; blue chips tend to want to invest more. Either seems like a win in the era of the coronavirus.Sure, there’s a valid case for shaking up corporate governance and returning cash to shareholders. Since the government’s stewardship code emboldened investors, Japan’s business culture has seen the trappings of change, with more independent directors having a stronger role. Companies with higher dividends have been proven to outperform. It’s helped shake off the cozy relationships between big banks and management.But even before the virus, resistance was building and a new law hindered foreign investors and activism. Covid-19 may further take the shine off the reform era. A recent study showed that hedge-fund activism often turns out to be short term, eventually reducing operating cash flow and investment spending. That’s the last thing post-pandemic business needs.This isn’t to say companies won’t use the virus to bury unpleasant news; there’s always room for bad behavior and opportunism. However, there is a need to redo the math on what makes sense and reassess capital efficiency against safety cushions.Activists may not be able to rely on pre-Covid-19 justifications, according to Keith Gottfried and Sean Donahue of Morgan, Lewis & Bockius LLP. There are just far too many uncertainties from the damage to supply chains, operations and the labor force. Rising environment, social and governance-based considerations will hold back institutional investors from banding together behind proxy fights: The coronavirus is, after all, a material social risk as applied to health, safety and human capital.In this environment, some hedge funds may try even harder to justify the need for change, as Gottfried and Donahue point out. But beware of corporate raiders in the guise of white knights. For companies and their shareholders, cash piles will prove to be much safer.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Anjani Trivedi is a Bloomberg Opinion columnist covering industrial companies in Asia. She previously worked for the Wall Street Journal. For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Tesla Plans Pay Cuts & Worker Furloughs on Coronavirus Crisis
    Zacks

    Tesla Plans Pay Cuts & Worker Furloughs on Coronavirus Crisis

    Tesla (TSLA) puts wage adjustments and equity grants on hold amid COVID-19 concerns.

  • Tesla Plans No-Pay Furloughs, Salary Cuts While Plants Idled
    Bloomberg

    Tesla Plans No-Pay Furloughs, Salary Cuts While Plants Idled

    (Bloomberg) -- Tesla Inc. will furlough non-critical employees without pay and temporarily cut executive salaries as much as 30% to conserve cash while the coronavirus pandemic forces the shutdown of much of its operations.In the U.S., those ranked vice president or above will see the steepest salary reductions, followed by a 20% drop for directors and a 10% cut for others, according to an internal memo seen by Bloomberg News. Workers outside the U.S. will see similar reductions. Those who can’t work from home and aren’t assigned critical tasks will stay employees and keep their health-care benefits.The moves add Tesla to the growing number of companies slashing labor costs to weather the pandemic. The outbreak hit just as Chief Executive Officer Elon Musk was ramping up the production of the new Model Y crossover, accelerating output at a plant near Shanghai and clearing the way for construction of a new facility outside Berlin.“This is a shared sacrifice across the company that will allow us to progress during these challenging times,” Tesla said in the memo. A representative for the company declined to comment.Tesla shares rose 1% as of 9:45 a.m. Wednesday in New York trading.Reopening PlanTesla agreed to idle U.S. production last month days after authorities ordered the San Francisco Bay area to shelter in place. The electric-vehicle maker expects to resume normal production at its U.S. facilities on May 4, according to the memo, which is the day after the stay-at-home measure is scheduled to end.Even after re-opening its facilities, Tesla will probably need about two weeks to ramp up production again, Dan Levy, a Credit Suisse analyst, wrote in a note late Tuesday. The roughly 30,000 cars that the company had in inventory at the end of the first quarter will be sufficient to meet weakened demand, he said.The company has more than 56,000 employees, according to a recent company-wide email. Its sole U.S. vehicle-assembly plant is in Fremont, California.Wage adjustments and equity grants will be put on hold, according to the memo. The pay cuts are expected to last until the end of the second quarter, and those furloughed are likely to be asked to return on May 4.Nevada, ShanghaiAt its Nevada gigafactory, Tesla reduced on-site staff by 75%, according to the county where the plant is located. The facility produces battery packs and electric motors with partner Panasonic Corp.Tesla’s Shanghai plant, meanwhile, recovered from a virus-related shutdown faster than many in the industry with the help of local authorities. After resuming operations in February, the factory surpassed the capacity it reached before the shutdown, making 3,000 cars a week, the company said last month.Tesla also is planning to expand its lineup in China by introducing a locally built Model 3 sedan with a longer driving range from as early as this week, people familiar with the matter have said.While Tesla is down significantly from a peak close of $917.42 in mid February, the shares are still up 30% for the year.(Updates with shares trading in the fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Why Panasonic (PCRFY) is Such a Great Value Stock Pick Right Now
    Zacks

    Why Panasonic (PCRFY) is Such a Great Value Stock Pick Right Now

    Panasonic (PCRFY) seems to be a good value pick, as it has decent revenue metrics to back up its earnings, and is seeing solid earnings estimate revisions as well.

  • Tesla to slash on-site staff at Nevada factory by 75% due to virus - county manager
    Reuters

    Tesla to slash on-site staff at Nevada factory by 75% due to virus - county manager

    BEIJING/TOKYO (Reuters) - U.S. electric carmaker Tesla Inc <TSLA.O> plans to slash on-site staff at its Nevada battery plant by around 75% due to the coronavirus pandemic, the local county manager said on Thursday. The move comes after its Japanese battery partner Panasonic Corp <6752.T> said it would scale down operations at the Nevada factory this week before closing it for 14 days. The factory produces electric motors and battery packs for Tesla's popular Model 3 sedans.

  • Reuters

    Panasonic to suspend battery production at Tesla joint venture in Nevada due to coronavirus

    Panasonic Corp <6752.T> said on Saturday it will temporarily suspend production at its battery joint venture with U.S. electric carmaker Tesla Inc <TSLA.O> in Nevada because of the coronavirus outbreak. The Japanese electronics company, which supplies battery cells for Tesla's electric vehicles, will scale down operations at so-called Gigafactory 1 early next week before closing it for 14 days, Panasonic said in an emailed statement. A Panasonic spokeswoman declined to comment on how the suspension would affect Tesla, which produces battery packs using Panasonic cells at the Nevada plant.

  • Tesla partner Panasonic is shutting down its operations at Nevada gigafactory
    TechCrunch

    Tesla partner Panasonic is shutting down its operations at Nevada gigafactory

    Panasonic is pulling its 3,500 employees from the massive Nevada factory it operates with partner Tesla over concerns about the spread of COVID-19. The company said Friday it will ramp down operations early next week and then close for 14 days. The move only affects Panasonic employees.

  • Panasonic Parting Ways Isn't Bad for Tesla
    Zacks

    Panasonic Parting Ways Isn't Bad for Tesla

    Panasonic bowing out of the solar panel JV will have no major effect on Tesla.

  • Tesla & Panasonic to Abort Solar-Cell Production in New York
    Zacks

    Tesla & Panasonic to Abort Solar-Cell Production in New York

    Tesla (TSLA) and Panasonic's decision to cease their solar cell partnership for Gigafactory 2 comes as another setback to the already strained relationship between the two firms.

  • Panasonic to end solar partnership with Tesla
    Reuters Videos

    Panasonic to end solar partnership with Tesla

    Tesla losing a big partner. Panasonic said Wednesday it's withdrawing from its deal with Tesla to produce solar cells at a plant in Buffalo, New York. The Japanese electronics company said it'll stop production in May and exit the factory by September. Panasonic employs about 380 of the more than 1500 workers at the plant. It said Tesla hopes to hire many of those workers for its operations in Buffalo. The Wall Street Journal reports Tesla told New York officials it'll keep producing solar panels there. The move is another sign of Tesla's fraying relationship with its Japanese partner. Panasonic status as the electric vehicle maker's exclusive automotive battery supplier is ending, and Tesla is set to diversify its battery supplies with other Asian companies. Panasonic said it'll keep producing batteries with Tesla at its joint venture plant in Nevada. Panasonic's exit from the Buffalo factory also increases uncertainty over Tesla's solar business. It had initially planned to sell the cells it makes there to Tesla for the so-called Solar Roof that resembles regular roof tiles. But it ships most of those cells to overseas customers because demand from Tesla has been low. Tesla has been scaling back its solar business since it bought it three years ago. Tesla shares lost ground at the open Wednesday despite the bounce in the broader market.

  • Panasonic to exit solar production at Tesla's NY plant as partnership frays
    Reuters

    Panasonic to exit solar production at Tesla's NY plant as partnership frays

    TOKYO/LOS ANGELES (Reuters) - Panasonic Corp <6752.T> said it would exit solar cell production at Tesla Inc's New York plant, the latest sign of strain in a partnership where Panasonic's status as the U.S. electric vehicle (EV) maker's exclusive battery supplier is ending. The move increases uncertainty over Tesla's <TSLA.O> solar business which is already under scrutiny, having been drastically scaled back since the U.S. firm bought it for $2.6 billion in 2016. Tesla has informed New York that Panasonic's withdrawal "has no bearing on Tesla's current operations", the state said in a statement.

  • Panasonic to exit solar production at Tesla's New York plant as partnership frays
    Reuters

    Panasonic to exit solar production at Tesla's New York plant as partnership frays

    TOKYO/LOS ANGELES (Reuters) - Panasonic Corp <6752.T> said it would exit solar cell production at Tesla Inc's New York plant, the latest sign of strain in a partnership where Panasonic's status as the U.S. electric vehicle (EV) maker's exclusive battery supplier is ending. The move increases uncertainty over Tesla's <TSLA.O> solar business which is already under scrutiny, having been drastically scaled back since the U.S. firm bought it for $2.6 billion in 2016. Tesla has informed New York that Panasonic's withdrawal "has no bearing on Tesla's current operations", the state said in a statement.

  • Thomson Reuters StreetEvents

    Edited Transcript of 6752.T earnings conference call or presentation 3-Feb-20 10:59am GMT

    Q3 2020 Panasonic Corp Earnings Presentation

  • Another day, another record: Tesla shares march toward $1,000
    Reuters

    Another day, another record: Tesla shares march toward $1,000

    The latest surge was partly fuelled by Panasonic Corp <6752.T> saying on Monday its automotive battery venture with Tesla was in the black for the first time. "Investors are now starting to believe that Tesla can make mass-volume electric vehicles, and automakers, battery makers and suppliers can make money from EVs," said Cho Hyun-ryul, analyst at Samsung Securities. Short interest in Tesla stood at 13.8% as of Jan. 30, according to Refinitiv data.

  • US STOCKS-Wall Street rises as U.S. manufacturing expands in January
    Reuters

    US STOCKS-Wall Street rises as U.S. manufacturing expands in January

    U.S. stocks climbed on Monday as gains in Amazon and Nike as well as a surprise rebound in U.S. factory activity helped markets attempt a recovery from steep weekly losses due to concerns about the coronavirus epidemic. ISM data showed the manufacturing sector expanded in January after five straight months of contraction, indicating that a prolonged slump in business investment has probably bottomed out.

  • Tesla up 20% after Panasonic posts first quarterly profit at battery business
    Reuters

    Tesla up 20% after Panasonic posts first quarterly profit at battery business

    TOKYO/SAN FRANCISCO (Reuters) - Tesla Inc's stock surged 20% on Monday in its largest one-day gain since 2013, fueled by a quarterly profit at Panasonic's battery business with the U.S. car maker and an investor report predicting its shares would rise more than ten-fold by 2024. Shares of Tesla have rallied by over 30% since the car maker run by Chief Executive Elon Musk posted its second consecutive quarterly profit last Wednesday, which was viewed as a milestone for the company competing against established heavyweights including General Motors Co and BMW. The stock is up over 300% since early June, helped by Tesla's better-than-expected financial results and ramped up production at its new car factory in Shanghai.

  • Toyota-Panasonic venture to start EV battery development in April
    Reuters

    Toyota-Panasonic venture to start EV battery development in April

    Toyota Motor Corp and Panasonic Corp have agreed to set up a joint venture that will begin developing electric vehicle (EV) batteries from April, as the Japanese companies gear up for an expected surge in demand. The new company, called Prime Planet Energy and Solutions, will develop prismatic - or square-shaped - batteries that will be available to any automaker, the two companies said in a statement on Monday. It will begin operations on April 1 with more than 5,000 employees, with Toyota owning 51% and Panasonic holding the remainder, the pair said.