Panasonic Holdings has revised down its final profit forecast for the current fiscal year, citing sluggish sales of electronic components for personal computers to China.
This is the second time that we have revised down our earnings forecast for the current fiscal year, following the one in October last year.
According to Panasonic Holdings' earnings forecast for the entire group for the current fiscal year, sales remain unchanged at 8.2 trillion yen, while final profit is revised downward from 235 billion yen, which was shown in October last year, to 210 billion yen. Did.
In addition to sluggish sales of electronic components against the backdrop of a sharp deterioration in market conditions for laptop computers in China and a global slowdown in investment in data centers, this was also due to lithium-ion batteries for EVs (electric vehicles). The main factor is that the prices of raw materials for ion batteries remain high.
The company is working to reduce fixed costs and raise product prices, but it has not been able to respond to the deterioration of market conditions.
This is the second time that Panasonic Holdings has revised down its earnings forecast for the current fiscal year, following October last year.
Hirokazu Umeda, Group CFO, said at an online press conference, "We believe that the Chinese market is temporarily stalling, and we believe that it will eventually recover through economic measures. We will continue to make necessary investments." said.