PC Panasonic Corp.

Panasonic Corporation (NYSE:PC)(TOKYO:6752) ("Panasonic") today reported its consolidated financial results for the second quarter and six months ended September 30, 2011, of the current fiscal year ending March 31, 2012 (fiscal 2012).

Consolidated Second-quarter Results

Consolidated group sales for the second quarter decreased by 6% to 2,075.7 billion yen, from 2,206.8 billion yen, compared with the same period a year ago. Of the consolidated group total, domestic sales amounted to 1,068.8 billion yen, down by 6% from 1,135.1 billion yen and overseas sales decreased to 1,006.9 billion yen, down by 6% from 1,071.7 billion yen.

The Japanese economy was severely affected by the global economic recession, appreciation of the yen and declining stock prices. However, there were signs of recovery with the improvements in production and exports due to the normalization of the supply chain which had been disrupted by the Great East Japan Earthquake.

In the meantime, the global economy showed signs of slowdown caused by the destabilization of the European finance market due to the government debt crisis in some countries, the high rate of unemployment and faltering house prices in the U.S., and slowing of demand expansion in emerging markets.

In such a business environment, Panasonic has been working towards two themes, Paradigm Shift to Growth and Laying Foundations to be a Green Innovation Company, in the second year of its three-year midterm management plan called "Green Transformation 2012 (GT12)." This is the first step towards the 100th anniversary vision of becoming the "No.1 Green Innovation Company in the Electronics Industry."

Operating profit1 decreased to 42.0 billion yen from 85.2 billion yen a year ago. Although the company pursued a thorough streamlining program to reduce material and fixed costs, this result was due mainly to price decline, sales decrease affected by the disaster and the appreciation of the yen. In the meantime, pre-tax loss was 141.9 billion yen compared with a profit of 60.3 billion yen a year ago, due mainly to the business restructuring expenses such as the implementation of early retirement programs and the impairment losses of fixed assets. Net loss attributable to Panasonic Corporation amounted to 105.8 billion yen, compared with a profit of 31.0 billion yen a year ago.

1 For information about operating profit, see Note 2 of the Notes to consolidated financial statements.

Consolidated Six-month Results

Consolidated group sales for six months ended September 30, 2011 decreased by 8% to 4,005.2 billion yen, compared with 4,367.9 billion yen in the same period of fiscal 2011. Domestic sales amounted to 2,036.4 billion yen, down by 7% from 2,189.5 billion yen a year ago, while overseas sales decreased by 10% to 1,968.8 billion yen, down from 2,178.4 billion yen a year ago.

The company's operating profit for the first six months decreased significantly to 47.6 billion yen, from 169.0 billion yen a year ago. Pre-tax loss totaled 159.3 billion yen, compared with a pre-tax income of 144.6 billion yen a year ago. Net income attributable to Panasonic Corporation turned to a loss of 136.2 billion yen from an income of 74.7 billion yen a year ago.

Consolidated Six-month Breakdown by Business Segment

The company's six-month consolidated sales and segment profit by business segment, compared with the amounts a year ago, are summarized as follows:

Digital AVC Networks

Sales decreased by 14% to 1,432.5 billion yen from 1,657.8 billion yen a year ago. Despite favorable sales of Blu-ray Disc recorders, this result was due mainly to sales decline in flat-panel TVs and mobile phones. Segment loss amounted to 18.1 billion yen, compared with segment profit of 61.3 billion yen a year ago, due mainly to sales decrease and price decline.

Home Appliances

Sales increased by 3% to 658.9 billion yen, compared with 636.7 billion yen a year ago, due mainly to favorable sales in air conditioners as well as stable sales in washing machines and refrigerators. Segment profit was 52.6 billion yen, compared with 49.1 billion yen a year ago, due mainly to sales increase and streamlining of material cost.

PEW and PanaHome

Sales increased by 5% to 879.2 billion yen from 834.0 billion yen a year ago. Regarding Panasonic Electric Works Co., Ltd. (PEW) and its subsidiaries, sales growth in electrical construction and building materials of housing/building-related business and home appliances business contributed to the overall sales increase, although sales declined in devices such as electronic materials and automation controls mainly for automobile-related products. For PanaHome Corporation and its subsidiaries, favorable sales of housing construction mainly for detached housing led to its overall sales increase, thanks to the Japanese stable housing market conditions. Segment profit was 31.6 billion yen, increased from 30.8 billion yen a year ago, due mainly to favorable sales and fixed cost reduction.

Components and Devices

Sales decreased by 14% to 411.5 billion yen, compared with 480.9 billion yen a year ago. This result was due mainly to sluggish sales in semiconductors as well as declines in sales of general components and batteries. Segment loss was 7.4 billion yen, compared with segment profit of 25.5 billion yen a year ago, due mainly to sales decrease and price decline.

SANYO

Sales decreased by 19% to 669.3 billion yen, compared with 829.7 billion yen a year ago. Although sales of solar photovoltaic systems, cold-chain equipments and commercial air conditioners were stable, sales of electronic components, digital cameras, TVs and in-car-related equipments were sluggish. Sales decline owing to the semiconductor business transfer in fiscal 2011 also led to the overall sales decrease. A 26.9 billion yen of segment loss was recorded compared with a segment profit of 6.1 billion yen a year ago, influenced by sales decreases, after incurring the expenses such as amortization of intangible assets recorded at the acquisition.

Other

Sales totaled 553.9 billion yen, down by 1% from 560.4 billion yen a year ago, due mainly to sales decline in components for group companies in Panasonic. Segment profit amounted to 23.9 billion yen, compared with 23.0 billion yen a year ago, due mainly to fixed cost reduction.

Consolidated Financial Condition

Net cash provided by operating activities for six months ended September 30, 2011 amounted to merely 1.0 billion yen, due to incurring net loss. Net cash used in investing activities amounted to 111.9 billion yen. This was due mainly to capital expenditures, offsetting proceeds from disposals of property, plant and equipment. Net cash used in financing activities was 83.1 billion yen, due mainly to repayments of long-term debt and dividend payment. Taking into consideration the effect of exchange rate fluctuations, cash and cash equivalents totaled 740.6 billion yen as of September 30, 2011, a decrease of 234.2 billion yen, compared with the end of the last fiscal year.

The company's consolidated total assets as of September 30, 2011 decreased 507.0 billion yen to 7,315.9 billion yen from the end of fiscal 2011. This was due mainly to the appreciation of the yen, a decrease in cash and cash equivalents and a decrease in property, plant and equipment by incurring impairment losses. The company's consolidated total liabilities decreased by 198.6 billion yen to 4,678.0 billion yen, attributable primarily to the appreciation of the yen and a decrease in account payables. Panasonic Corporation shareholders' equity increased 0.6 billion yen, compared with the end of fiscal 2011, to 2,559.6 billion yen as of September 30, 2011. Despite an increase of 271.2 billion yen in Panasonic shareholder's equity by share exchanges for acquisition of all shares of PEW and SANYO, this was primarily as a decrease in retained earnings by incurring net loss attributable to Panasonic Corporation and deterioration in accumulated other comprehensive income, Noncontrolling interests decreased 309.0 billion yen to 78.3 billion yen, due mainly to the share exchanges as stated above.

Interim and Year-end Dividend

The Board of Directors of the company resolved today to distribute an interim (semiannual) cash dividend of 5.0 yen per common share to shareholders of record as of September 30, 2011, payable November 30, 2011. This is equal to last year's interim dividend of 5.0 yen. The company also plans to distribute a year-end cash dividend of 5.0 yen per common share (payable to shareholders of record as of March 31, 2012). If implemented, total dividends for fiscal 2012, including the aforementioned interim dividend of 5.0 yen per common share, will be 10.0 yen per common share.

Difference Between Result and Forecast for Consolidated Six-month

Regarding the six months result of fiscal 2012, sales was 4,005.2 billion yen compared with the forecast of 4,000.0 billion yen, due mainly to stable sales in domestic market. Operating profit was 47.6 billion yen, increased from the forecast of 10.0 billion yen due primarily to sales increase and thorough fixed cost reduction. In the meantime, Pre-tax loss was 159.3 billion yen, compared with the forecast of a loss of 50.0 billion yen and Net loss attributable to Panasonic Corporation was 136.2 billion yen, compared with the forecast of a loss of 70.0 billion yen. These results are due mainly to incurring the costs related to the structural reforms of flat-panel TVs business in other deductions. Net loss attributable to Panasonic Corporation, per share was 58.88 yen, compared with the forecast of 30.27 yen.

Outlook for Fiscal 2012

Regarding the annual forecast for fiscal 2012, the company revised its previous sales forecast of 8,700.0 billion yen downward to 8,300.0 billion yen due primarily to the sluggish overseas sales affected by ever-intensified price competition for digital products and the appreciation of the yen. Operating profit is expected to be 130.0 billion yen, a decrease from the previous forecast of 270.0 billion yen due mainly to the sales decline. In addition, there will be negative factors such as the appreciation of the yen and rising prices in raw materials, which will not be able to be offset by fixed cost reduction. Pre-tax loss is forecast to be 430.0 billion yen, compared with the previous forecast of an income of 100.0 billion yen, and Net loss attributable to Panasonic Corporation is expected to be 420.0 billion yen, compared with the previous forecast of an income of 30.0 billion yen. These changes are primarily due to an expected increase of restructuring expenses of 404.0 billion yen mainly for flat-panel TVs and semiconductor businesses to improve its financial situation. The total business restructuring expenses are now expected to be 514.0 billion yen, which are included in non-operating income/loss (a loss of 560.0 billion yen). Net loss attributable to Panasonic Corporation, per share is anticipated to be 181.64 yen, compared with the previous forecast of an income of 12.97 yen.

Panasonic Corporation is one of the world's leading manufacturers of electronic and electric products for consumer, business and industrial use. Panasonic's shares are listed on the Tokyo, Osaka, Nagoya and New York Stock Exchanges.

For more information, please visit the following web sites:

Panasonic home page URL: http://panasonic.net/

Panasonic IR web site URL: http://panasonic.net/ir/

Disclaimer Regarding Forward-Looking Statements

This press release includes forward-looking statements (within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934) about Panasonic and its Group companies (the Panasonic Group). To the extent that statements in this press release do not relate to historical or current facts, they constitute forward-looking statements. These forward-looking statements are based on the current assumptions and beliefs of the Panasonic Group in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause the Panasonic Group's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. Panasonic undertakes no obligation to publicly update any forward-looking statements after the date of this press release. Investors are advised to consult any further disclosures by Panasonic in its subsequent filings with the U.S. Securities and Exchange Commission pursuant to the U.S. Securities Exchange Act of 1934 and its other filings.

The risks, uncertainties and other factors referred to above include, but are not limited to, economic conditions, particularly consumer spending and corporate capital expenditures in the United States, Europe, Japan, China and other Asian countries; volatility in demand for electronic equipment and components from business and industrial customers, as well as consumers in many product and geographical markets; currency rate fluctuations, notably between the yen, the U.S. dollar, the euro, the Chinese yuan, Asian currencies and other currencies in which the Panasonic Group operates businesses, or in which assets and liabilities of the Panasonic Group are denominated; the possibility of the Panasonic Group incurring additional costs of raising funds, because of changes in the fund raising environment; the ability of the Panasonic Group to respond to rapid technological changes and changing consumer preferences with timely and cost-effective introductions of new products in markets that are highly competitive in terms of both price and technology; the possibility of not achieving expected results on the alliances or mergers and acquisitions including the business reorganization after the acquisition of all shares of Panasonic Electric Works Co., Ltd. and SANYO Electric Co., Ltd.; the ability of the Panasonic Group to achieve its business objectives through joint ventures and other collaborative agreements with other companies; the ability of the Panasonic Group to maintain competitive strength in many product and geographical areas; the possibility of incurring expenses resulting from any defects in products or services of the Panasonic Group; the possibility that the Panasonic Group may face intellectual property infringement claims by third parties; current and potential, direct and indirect restrictions imposed by other countries over trade, manufacturing, labor and operations; fluctuations in market prices of securities and other assets in which the Panasonic Group has holdings or changes in valuation of long-lived assets, including property, plant and equipment and goodwill, deferred tax assets and uncertain tax positions; future changes or revisions to accounting policies or accounting rules; natural disasters including earthquakes, prevalence of infectious diseases throughout the world and other events that may negatively impact business activities of the Panasonic Group; as well as direct or indirect adverse effects of the Great East Japan Earthquake on the Panasonic Group in terms of, among others, component procurement, manufacturing, distribution, economic conditions in Japan including consumer spending and sales activities overseas, and direct or indirect adverse effects of the flooding in Thailand on the Panasonic Group in terms of, among others, component procurement and manufacturing. The factors listed above are not all-inclusive and further information is contained in Panasonic's latest annual reports, Form 20-F, and any other reports and documents which are on file with the U.S. Securities and Exchange Commission.

(Financial Tables and Additional Information Attached)

  Panasonic Corporation

Consolidated Statement of Operations *

(Three months ended September 30)      

Yen (millions)

Percentage

2011

2010

2011/2010

Net sales

¥

2,075,650

¥

2,206,822

94 % Cost of sales (1,538,814 ) (1,628,763 ) Selling, general and administrative expenses (494,813 ) (492,929 ) Interest income 3,310 2,948 Dividends received 999 425 Interest expense (6,827 ) (6,904 ) Expenses associated with the implementation of early retirement programs * (19,738 ) (678 ) Other income (deductions), net *   (161,677 )   (20,698 ) Income (loss) before income taxes (141,910 ) 60,223 -- Provision for income taxes 18,808 (25,810 ) Equity in earnings of associated companies   2,569     1,884   Net income (loss) (120,533 ) 36,297 -- Less net income (loss) attributable to noncontrolling interests   (14,733 )   5,257   Net income (loss) attributable to Panasonic Corporation

¥

(105,800

)

¥

31,040

  -- Net income (loss) attributable to Panasonic Corporation, basic per common share (45.75) yen 14.99 yen per ADS (45.75) yen 14.99 yen Net income (loss) attributable to Panasonic Corporation, diluted per common share * -- -- per ADS * -- --   (Parentheses indicate expenses, deductions or losses.)  

* See Notes to consolidated financial statements.

   

Supplementary Information

(Three months ended September 30)

 

Yen (millions)

2011

2010

Depreciation (tangible assets)

¥

65,888

¥

69,687

Capital investment **

¥

76,138

¥

102,425

R&D expenditures

¥

134,670

¥

132,145

Number of employees (September 30) 360,700 385,243   ** These figures are calculated on an accrual basis.     Panasonic Corporation

Consolidated Statement of Operations *

(Six months ended September 30)      

Yen (millions)

Percentage

2011

2010

2011/2010

Net sales

¥

4,005,198

¥

4,367,948

92 % Cost of sales (2,994,321 ) (3,199,550 ) Selling, general and administrative expenses (963,278 ) (999,430 ) Interest income 6,736 5,717 Dividends received 3,814 3,483 Interest expense (14,172 ) (14,285 ) Expenses associated with the implementation of early retirement programs * (23,309 ) (1,605 ) Other income (deductions), net *   (180,011 )   (17,725 ) Income (loss) before income taxes (159,343 ) 144,553 -- Provision for income taxes 1,355 (64,147 ) Equity in earnings of associated companies   4,831     3,629   Net income (loss) (153,157 ) 84,035 -- Less net income (loss) attributable to noncontrolling interests   (17,006 )   9,317   Net income (loss) attributable to Panasonic Corporation

¥

(136,151

)

¥

74,718

  -- Net income (loss) attributable to Panasonic Corporation, basic per common share (58.88) yen 36.09 yen per ADS (58.88) yen 36.09 yen Net income (loss) attributable to Panasonic Corporation, diluted per common share * -- -- per ADS * -- --   (Parentheses indicate expenses, deductions or losses.)  

* See Notes to consolidated financial statements.

   

Supplementary Information

(Six months ended September 30)  

Yen (millions)

2011

2010

Depreciation (tangible assets)

¥

131,421

¥

138,462

Capital investment **

¥

131,412

¥

201,075

R&D expenditures

¥

266,851

¥

265,833

Number of employees (September 30) 360,700 385,243   ** These figures are calculated on an accrual basis.     Panasonic Corporation

Consolidated Balance Sheet **

September 30, 2011 With comparative figures for March 31, 2011    

Yen (millions)

Assets

Sept. 30, 2011

March 31, 2011

Current assets: Cash and cash equivalents

¥

740,595

¥

974,826

Time deposits 50,818 69,897 Trade receivables: Notes 83,927 78,979 Accounts 988,346 1,001,982 Allowance for doubtful receivables (19,589 ) (21,860 ) Inventories 916,147 896,424 Other current assets   536,478     489,601   Total current assets   3,296,722     3,489,849   Investments and advances 482,492 569,651 Property, plant and equipment, net of accumulated depreciation 1,720,037 1,883,309 Other assets   1,816,614     1,880,061   Total assets

¥

7,315,865

 

¥

7,822,870

   

Liabilities and Equity

Current liabilities: Short-term debt, including current portion of long-term debt

¥

396,340

¥

432,982

Trade payables: Notes 64,774 60,128 Accounts 876,239 941,124 Other current liabilities   1,388,497     1,412,816   Total current liabilities   2,725,850     2,847,050   Noncurrent liabilities: Long-term debt 1,132,051 1,162,287 Other long-term liabilities   820,061     867,198   Total noncurrent liabilities   1,952,112     2,029,485   Total liabilities   4,677,962     4,876,535   Panasonic Corporation shareholders' equity: Common stock 258,740 258,740 Capital surplus 1,115,871 1,100,181 Legal reserve 94,563 94,198 Retained earnings 2,088,726 2,401,909 Accumulated other comprehensive income (loss) * (751,632 ) (625,300 ) Treasury stock, at cost   (246,682 )   (670,736 ) Total Panasonic Corporation shareholders' equity   2,559,586     2,558,992   Noncontrolling interests   78,317     387,343   Total equity   2,637,903     2,946,335   Total liabilities and equity

¥

7,315,865

 

¥

7,822,870

  * Accumulated other comprehensive income (loss) breakdown:  

Yen (millions)

Sept. 30, 2011

March 31, 2011

  Cumulative translation adjustments

¥

(560,466

)

¥

(453,158

)

Unrealized holding gains of available-for-sale securities (18,004 ) 16,835 Unrealized gains of derivative instruments 3,947 2,277 Pension liability adjustments (177,109 ) (191,254 )  

** See Notes to consolidated financial statements.

   

Panasonic Corporation

Consolidated Information by Business Segment *

(Six months ended September 30)

By Business Segment:

     

Yen (billions)

Percentage [Sales]

2011

2010

2011/2010

Digital AVC Networks

¥

1,432.5

¥

1,657.8

86 % Home Appliances 658.9 636.7 103 % PEW and PanaHome 879.2 834.0 105 % Components and Devices 411.5 480.9 86 % SANYO 669.3 829.7 81 % Other   553.9     560.4   99 % Subtotal 4,605.3 4,999.5 92 % Eliminations   (600.1 )   (631.6 ) -- Consolidated total

¥

4,005.2

 

¥

4,367.9

  92 %   [Segment Profit (Loss)]* Digital AVC Networks

¥

(18.1

)

¥

61.3

-- Home Appliances 52.6 49.1 107 % PEW and PanaHome 31.6 30.8 103 % Components and Devices (7.4 ) 25.5 -- SANYO (26.9 ) 6.1 -- Other   23.9     23.0   104 % Subtotal 55.7 195.8 28 % Corporate and eliminations   (8.1 )   (26.8 ) -- Consolidated total

¥

47.6

 

¥

169.0

  28 %  

* See Notes to consolidated financial statements.

    Panasonic Corporation

Consolidated Statement of Cash Flows *

(Six months ended September 30)    

Yen (millions)

2011

2010

Cash flows from operating activities:

Net income (loss)

¥

(153,157

)

¥

84,035

Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 172,574 179,685 Net (gain) loss on sale of investments 1,159 (6,876 ) Cash effects of changes in, excluding acquisition: Trade receivables (31,750 ) (3,131 ) Inventories (65,848 ) (132,022 ) Trade payables (936 ) 51,612 Retirement and severance benefits (7,880 ) (18,911 ) Other   86,878     92,930   Net cash provided by operating activities   1,040     247,322    

Cash flows from investing activities:

Proceeds from disposition of investments and advances 21,809 59,624 Increase in investments and advances (3,242 ) (2,633 ) Capital expenditures (173,367 ) (200,728 ) Proceeds from disposals of property, plant and equipment 33,639 72,771 (Increase) decrease in time deposits 14,251 (14,412 ) Other   (5,031 )   (6,838 ) Net cash used in investing activities   (111,941 )   (92,216 )  

Cash flows from financing activities:

Increase (decrease) in short-term debt 15,006 798,043 Increase (decrease) in long-term debt (75,129 ) (63,459 ) Dividends paid to Panasonic Corporation shareholders (10,351 ) (10,353 ) Dividends paid to noncontrolling interests (7,589 ) (8,072 ) (Increase) decrease in treasury stock (9 ) (372 ) Other   (5,013 )   (62,060 ) Net cash provided by (used in) financing activities   (83,085 )   653,727     Effect of exchange rate changes on cash and cash equivalents   (40,245 )   (50,339 ) Net increase (decrease) in cash and cash equivalents (234,231 ) 758,494 Cash and cash equivalents at beginning of period   974,826     1,109,912   Cash and cash equivalents at end of period

¥

740,595

 

¥

1,868,406

   

* See Notes to consolidated financial statements.

     

Notes to consolidated financial statements:

  1. The company's consolidated financial statements are prepared in conformity with U.S. generally accepted accounting principles (U.S. GAAP).   2. In order to be consistent with generally accepted financial reporting practices in Japan, operating profit, a non-GAAP measure, is presented as net sales less cost of sales and selling, general and administrative expenses. The company believes that this is useful to investors in comparing the company's financial results with those of other Japanese companies. Please refer to the accompanying consolidated statement of operations and Note 3 for the U.S. GAAP reconciliation.   3. Under U.S. GAAP, expenses associated with the implementation of early retirement programs at certain domestic and overseas companies and the impairment loss on fixed assets are included as part of operating profit in the statement of operations.   4. In other income (deductions), the company incurred expenses associated with the implementation of early retirement programs of certain domestic and overseas companies.   5. The impairment loss on fixed assets are included as other income (deduction), net.   6. Comprehensive income (loss) attributable to Panasonic Corporation was reported as a loss of 261,645 million yen for the six months ended September 30, 2011, and a loss of 46,563 million yen for the six months ended September 30, 2010. Comprehensive income (loss) attributable to Panasonic Corporation includes "net income (loss) attributable to Panasonic Corporation" and increases (decreases) in accumulated other comprehensive income (loss) attributable to Panasonic Corporation.   7. Diluted net income (loss) per share attributable to Panasonic Corporation common shareholders has been omitted because the company did not have potential common shares that were outstanding for the period.   8. Regarding consolidated segment profit (loss), expenses for basic research and administrative expenses at the corporate headquarters level are treated as unallocatable expenses for each business segment, and are included in Corporate and eliminations.   9. On April 1, 2011, Panasonic conducted share exchanges in order to make Panasonic a wholly-owning parent company, and its subsidiaries Panasonic Electric Works Co., Ltd. (PEW) and SANYO Electric Co., Ltd. (SANYO) its wholly-owned subsidiaries. Therefore, both PEW and SANYO became wholly-owned subsidiaries of the company. The difference between the fair value of the shares of Panasonic delivered to the noncontrolling interest and the carrying amount of the noncontrolling interests was recognized as an adjustment to capital surplus. As a result of this share exchange, Panasonic Corporation shareholders' equity increased by 271,205 million yen while noncontrolling interests decreased by the same amount.   10. The company's business segments are classified according to a business domain-based management system, which focuses on global consolidated management by each business domain, in order to ensure consistency of its internal management structure and disclosure.   Principal internal divisional companies or units and subsidiaries operating in respective segments as of September 30, 2011 are as follows:  

Digital AVC Networks

AVC Networks Company, Systems & Communications Company*, Automotive Systems Company, Panasonic Healthcare Co., Ltd.  

Home Appliances

Home Appliances Company, Lighting Company, Panasonic Ecology Systems Co., Ltd.  

PEW and PanaHome

Panasonic Electric Works Co., Ltd., PanaHome Corporation  

Components and Devices

Semiconductor Company, Panasonic Electronic Devices Co., Ltd., Energy Company  

SANYO

SANYO Electric Co., Ltd.  

Other

Panasonic Factory Solutions Co., Ltd., Panasonic Welding Systems Co., Ltd.  

*

The operations of System Networks Company and Panasonic Mobile Communications Co., Ltd. in Digital AVC Networks were integrated in April 2011. As a result, Systems & Communications Company was established.

  11. Number of consolidated companies: 611 (including parent company)   12. Number of associated companies under the equity method: 113      

Supplemental Consolidated Financial Data for Fiscal 2012

Second Quarter and Six Months ended September 30, 2011

                 

1. Sales Breakdown

yen (billions) Fiscal 2012

Second Quarter

Total       Domestic   Overseas         12/11  

Localcurrencybasis 12/11

  12/11   12/11  

Localcurrencybasis 12/11

Video and Audio Equipment 319 .6   83 %   85 % 106 .9   79 % 212 .7   85 %   88 %

Information andCommunications Equipment

382 .2   101 %   104 % 198 .0   96 % 184 .2   108 %   115 %   Digital AVC Networks 701 .8   92 %   95 % 304 .9   89 % 396 .9   94 %   99 %   Home Appliances 303 .9   101 %   104 % 164 .1   96 % 139 .8   109 %   114 %   PEW and PanaHome 411 .6   103 %   105 % 333 .7   103 % 77 .9   103 %   110 %   Components and Devices 178 .9   90 %   93 % 63 .0   94 % 115 .9   88 %   92 %   SANYO 330 .7   81 %   85 % 124 .3   77 % 206 .4   84 %   91 %   Other 148 .8   106 %   108 % 78 .8   112 % 70 .0   101 %   104 % Total 2,075 .7 94 % 97 % 1,068 .8 94 % 1,006 .9 94 % 99 %   (Domestic vs. Overseas)   (100 %)           (51 %)       (49 %)           yen (billions) Fiscal 2012 Six Months

ended September 30, 2011

Total       Domestic   Overseas         12/11  

Localcurrencybasis 12/11

  12/11   12/11  

Localcurrencybasis 12/11

Video and Audio Equipment 628 .8   80 %   82 % 232 .5   85 % 396 .3   78 %   81 %

Information andCommunications Equipment

673 .6   90 %   93 % 324 .8   81 % 348 .8   101 %   107 %   Digital AVC Networks 1,302 .4   85 %   88 % 557 .3   83 % 745 .1   87 %   92 %   Home Appliances 633 .6   103 %   106 % 339 .4   100 % 294 .2   107 %   113 %   PEW and PanaHome 779 .6   105 %   106 % 623 .8   105 % 155 .8   102 %   109 %   Components and Devices 347 .9   89 %   92 % 119 .8   91 % 228 .1   88 %   92 %   SANYO 646 .0   79 %   84 % 243 .6   78 % 402 .4   80 %   87 %   Other 295 .7   109 %   110 % 152 .5   111 % 143 .2   107 %   110 % Total 4,005 .2 92 % 94 % 2,036 .4 93 % 1,968 .8 90 % 96 %   (Domestic vs. Overseas)   (100 %)           (51 %)       (49 %)          

Overseas Sales by Region

yen (billions)               Fiscal 2012 Second Quarter

Fiscal 2012 Six Months endedSeptember 30, 2011

                    12/11  

Localcurrencybasis 12/11

    12/11  

Localcurrencybasis 12/11

North and South America   244 .1   91 %   100 % 484 .2   87 %   97 % Europe   187 .1   92 %   93 % 384 .3   90 %   91 % Asia   260 .8   94 %   98 % 514 .6   90 %   95 % China   314 .9   98 %   103 % 585 .7   93 %   99 % Total     1,006 .9   94 %   99 %   1,968 .8   90 %   96 %    

2. Sales by Products

            yen(billions) Product Category Products Fiscal 2012 Second Quarter Six Months ended

September 30, 2011

Sales   12/11 Sales   12/11 Digital AVC Networks   TVs 188 .4   78 % 368 .3   75 % Plasma TVs 80 .8   69 % 161 .1   65 % LCD TVs 93 .3   90 % 175 .5   85 %   Digital cameras 41 .5   89 % 85 .9   88 %   BD / DVD recorders 32 .8   115 % 71 .4   115 %   BD recorders / players 28 .0   120 % 62 .2   122 % Home Appliances   Air conditioners 69 .1   103 % 167 .4   113 %   Washing machines 35 .2   105 % 66 .2   105 %   Refrigerators 37 .8   106 % 70 .7   103 % Components and Devices   General components 83 .4   94 % 157 .9   91 %     Semiconductors *   63 .2   72 %   128 .2   74 % * Information for semiconductors is on a production basis.    

3. Segment Information

yen (billions)   Fiscal 2012 Second Quarter   Fiscal 2012 Six Months ended September 30, 2011   Sales   12/11   Segment

Profit

  % of sales   12/11 Sales   12/11   Segment

Profit

 

% of sales

  12/11 Digital AVC Networks 771 .9   93 % -2 .1   -0 .3%   -   1,432 .5   86 % -18 .1   -1 .3%   -   Home Appliances 316 .0   101 % 19 .0   6 .0%   113 % 658 .9   103 % 52 .6   8 .0%   107 % PEW and Panahome 461 .9   104 % 21 .0   4 .6%   93 % 879 .2   105 % 31 .6   3 .6%   103 % Components and Devices 206 .0   84 % 0 .1   0 .1%   1 % 411 .5   86 % -7 .4   -1 .8%   -   SANYO 345 .3   83 % -12 .9   -3 .8%   -   669 .3   81 % -26 .9   -4 .0%   -   Other 269 .9   95 % 12 .0   4 .4%   118 % 553 .9   99 % 23 .9   4 .3%   104 % Total 2,371 .0   94 % 37 .1   1 .6%   38 % 4,605 .3   92 % 55 .7   1 .2%   28 % Corporate and eliminations -295 .3   -   4 .9   -     -   -600 .1   -   -8 .1   -     -   Consolidated total   2,075 .7   94 %   42 .0   2 .0%   49 %   4,005 .2   92 %   47 .6   1 .2%   28 %              

4. Primary Domain Companies' Information

(Business domain company basis)

Fiscal 2012 Second Quarter

  yen (billions)               Sales Domain Company Profit Capital Investment                 12/11     % of Sales   12/11     12-11 AVC Networks Company 368 .4 87 % -19 .2 -5 .2% -   16 .9 -3 .2 Panasonic Electronic Devices Co., Ltd. 88 .4 90 % 2 .4 2 .7% 47 % 6 .6 -1 .0 Factory Automation Business   48 .5   93 %   7 .8   16 .0%   87 %   1 .3   +0 .7    

Fiscal 2012 Six Months ended September 30, 2011

  yen (billions)   Sales Domain Company Profit Capital Investment                 12/11     % of Sales   12/11     12-11 AVC Networks Company 719 .1 85 % -49 .0 -6 .8% -   24 .7 -35 .4 Panasonic Electronic Devices Co., Ltd. 167 .2 86 % -0 .3 -0 .2% -   13 .2 +0 .1 Factory Automation Business   97 .7   101 %   14 .5   14 .9%   94 %   1 .8   +1 .0 * These figures are calculated on an accrual basis.    

5. Capital Investment by Segments *

yen (billions)         Fiscal 2012 Second Quarter Fiscal 2012 Six Months

ended September 30, 2011

                12-11     12-11   Digital AVC Networks 21 .1   -5 .7 34 .4   -38 .3   Home Appliances 10 .2   +0 .7 17 .7   +2 .7   PEW and PanaHome 11 .6   +1 .7 22 .6   +2 .9   Components and Devices ** 14 .4   -3 .0 26 .1   -11 .7   SANYO 16 .5   -19 .3 25 .5   -26 .2   Other 2 .3   -0 .7 5 .1   +0 .9   Total   76 .1   -26 .3   131 .4   -69 .7

< ** semiconductors only >

< 3

.1 >

 

< -3

.0 >

 

< 5

.7 >

< -5

.4 >

* These figures are calculated on an accrual basis.    

6. Foreign Currency Exchange Rates

 

< Export Rates >

  Fiscal 2011   Fiscal 2012     Second Quarter  

Six Months endedSeptember 30

  Full Year Second Quarter  

Six Months endedSeptember 30

  U.S. Dollars ¥91   ¥91   ¥88 ¥81   ¥81   Euro   ¥119   ¥122   ¥117   ¥115   ¥114  

< Rates Used for Consolidation >

Fiscal 2011 Fiscal 2012     Second Quarter  

Six Months endedSeptember 30

  Full Year Second Quarter  

Six Months endedSeptember 30

  U.S. Dollars ¥86   ¥89   ¥86 ¥78   ¥80   Euro   ¥111   ¥114   ¥113   ¥110   ¥114  

< Foreign Currency Transaction > *

(billions)

Fiscal 2011 Fiscal 2012     Second Quarter  

Six Months endedSeptember 30

  Full Year Second Quarter  

Six Months endedSeptember 30

  U.S. Dollars US$0.5   US$0.9   US$2.0 US$0.9   US$1.8   Euro   € 0.3   € 0.6   € 1.1   € 0.4   € 0.8 *

These figures are based on the net foreign exchange exposure of the company.Transaction amount of SANYO is included from Fiscal 2012.

   

7. Number of Employees

(persons)       End of September 2010   End of March 2011   End of June 2011   End of September 2011 Domestic   151,018 145,512 145,546 143,321 Overseas   234,225 221,425 220,353 217,379 Total     385,243   366,937   365,899   360,700    

8. Fiscal 2012 Annual Forecasts

                 

(1) Sales Breakdown

Fiscal 2012 Forecast (as of July 28, 2011)   yen (billions) Total     Domestic   Overseas           12/11  

Local currencybasis 12/11

  12/11   12/11  

Local currencybasis 12/11

Video and Audio Equipment 1,530 .0   97 %   98 % 450 .0   76 % 1,080 .0   111 %   112 %

Information andCommunications Equipment

1,560 .0   106 %   106 % 800 .0   102 % 760 .0   110 %   111 %   Digital AVC Networks 3,090 .0   101 %   102 % 1,250 .0   91 % 1,840 .0   110 %   112 %   Home Appliances 1,280 .0   105 %   105 % 690 .0   101 % 590 .0   108 %   109 %   PEW and PanaHome 1,620 .0   104 %   105 % 1,305 .0   104 % 315 .0   106 %   108 %   Components and Devices 770 .0   103 %   104 % 270 .0   104 % 500 .0   103 %   104 %   SANYO 1,300 .0   85 %   87 % 490 .0   81 % 810 .0   88 %   91 %   Other 640 .0   107 %   108 % 345 .0   102 % 295 .0   114 %   115 % Total 8,700 .0 100 % 101 % 4,350 .0 96 % 4,350 .0 104 % 106 %   (Domestic vs. Overseas)   (100 %)           (50 %)       (50 %)           Fiscal 2012 Forecast (as of October 31, 2011)   yen (billions) Total       Domestic   Overseas             12/11  

Local currencybasis 12/11

  12/11   12/11  

Local currencybasis 12/11

Video and Audio Equipment 1,275 .0   81 %   83 % 440 .0   74 % 835 .0   85 %   89 %

Information andCommunications Equipment

1,565 .0   106 %   109 % 810 .0   103 % 755 .0   109 %   116 %   Digital AVC Networks 2,840 .0   93 %   96 % 1,250 .0   91 % 1,590 .0   95 %   100 %   Home Appliances 1,280 .0   105 %   107 % 690 .0   101 % 590 .0   108 %   115 %   PEW and PanaHome 1,620 .0   104 %   106 % 1,305 .0   104 % 315 .0   106 %   112 %   Components and Devices 705 .0   94 %   98 % 270 .0   104 % 435 .0   89 %   94 %   SANYO 1,225 .0   80 %   84 % 490 .0   81 % 735 .0   80 %   86 %   Other 630 .0   106 %   107 % 345 .0   102 % 285 .0   111 %   114 % Total 8,300 .0 95 % 98 % 4,350 .0 96 % 3,950 .0 95 % 100 %   (Domestic vs. Overseas)   (100 %)           (52 %)       (48 %)          

Overseas Sales by Region

yen (billions)               Fiscal 2012 Forecasts

(as of July 28, 2011)

Fiscal 2012 Forecasts

(as of October 31, 2011)

                    12/11  

Localcurrencybasis 12/11

    12/11  

Localcurrencybasis 12/11

North and South America   1,120 .0   105 %   107 % 990 .0   92 %   102 % Europe   880 .0   103 %   105 % 750 .0   87 %   91 % Asia   1,100 .0   103 %   105 % 1,030 .0   96 %   101 % China   1,250 .0   106 %   107 % 1,180 .0   100 %   104 % Total     4,350 .0   104 %   106 %   3,950 .0   95 %   100 %          

(2) Segment Information

Fiscal 2012 Forecast (as of July 28, 2011)   yen (billions)   Sales   12/11 Segment

Profit

  % of sales   12/11 Digital AVC Networks 3,340 .0   101 % 121 .0   3 .6%   105 % Home Appliances 1,320 .0   103 % 104 .0   7 .9%   113 % PEW and PanaHome 1,810 .0   104 % 76 .0   4 .2%   104 % Components and Devices 945 .0   102 % 35 .0   3 .7%   106 % SANYO 1,335 .0   85 % -63 .0   -4 .7%   -   Other 1,210 .0   101 % 55 .0   4 .5%   104 % Total 9,960 .0   100 % 328 .0   3 .3%   92 % Corporate and eliminations -1,260 .0   -   -58 .0   -     -   Consolidated total   8,700 .0   100 %   270 .0   3 .1%   88 % (Note)   The annual forecast for semiconductors on a production basis for fiscal 2012 is 312.6 billion yen, almost the same as fiscal 2011.           Fiscal 2012 Forecast (as of October 31, 2011)   yen (billions)   Sales   12/11 Segment

Profit

  % of sales   12/11 Digital AVC Networks 3,090 .0   94 % 36 .0   1 .2%   31 % Home Appliances 1,320 .0   103 % 104 .0   7 .9%   113 % PEW and PanaHome 1,810 .0   104 % 76 .0   4 .2%   104 % Components and Devices 880 .0   95 % 5 .0   0 .6%   15 % SANYO 1,260 .0   81 % -69 .0   -5 .5%   -   Other 1,200 .0   100 % 45 .0   3 .8%   85 % Total 9,560 .0   96 % 197 .0   2 .1%   55 % Corporate and eliminations -1,260 .0   -   -67 .0   -     -   Consolidated total   8,300 .0   95 %   130 .0   1 .6%   43 % (Note)   The annual forecast for semiconductors on a production basis for fiscal 2012 is 269.5 billion yen, down 14% from fiscal 2011.                

(3) Primary Domain Companies' Information

(Business domain company basis)

Sales, Domain Company Profit and Capital Investment*

Fiscal 2012 Forecast (as of July 28, 2011)   yen (billions)   Sales Domain Company Profit Capital Investment                 12/11     % of sales   12/11     12-11 AVC Networks Company 1,728 .1   102 % 0 .0   0 .0%   -   71 .0   -52 .0 Panasonic Electronic Devices Co., Ltd. 374 .0   102 % 16 .2   4 .3%   131 % 36 .7   +5 .5 Factory Automation Business   192 .3   110 %   28 .8   15 .0%   120 %   5 .1   +3 .1   Fiscal 2012 Forecast (as of October 31, 2011)   yen (billions)   Sales Domain Company Profit Capital Investment                 12/11     % of sales   12/11     12-11 AVC Networks Company 1,428 .7   84 % -82 .7   -5 .8%   -   50 .9   -72 .1 Panasonic Electronic Devices Co., Ltd. 366 .0   100 % 11 .6   3 .2%   94 % 37 .4   +6 .2 Factory Automation Business   181 .1   104 %   23 .9   13 .2%   100 %   5 .1   +3 .1 * These figures are calculated on an accrual basis.    

(4) Capital Investment, Depreciation, R&D Expenditures

Capital Investment*

yen (billions)         Fiscal 2012

Forecasts

(as of July 28, 2011)

Fiscal 2012

Forecasts

(as of October 31, 2011)

          12-11     12-11 Digital AVC Networks 89 .0   -64 .7 75 .0   -78 .7 Home Appliances 33 .0   -1 .7 35 .0   +0 .3 PEW and PanaHome 46 .0   +2 .5 47 .0   +3 .5 Components and Devices ** 72 .0   -2 .7 75 .0   +0 .3 SANYO 62 .0   -25 .2 70 .0   -17 .2 Other 18 .0   +8 .0 18 .0   +8 .0 Total   320 .0   -83 .8   320 .0   -83 .8

< 19

.9 >

< -1

.5 >

< 18

.8 >

< -2

.6 >

* These figures are calculated on an accrual basis.  

Depreciation (tangible assets)

        yen (billions)   Fiscal 2012

Forecasts

(as of July 28, 2011)

Fiscal 2012

Forecasts

(as of October 31, 2011)

        12-11     12-11 303 .0   +18 .8   270 .0   -14 .2    

R&D Expenditures

            yen (billions)   Fiscal 2012

Forecasts

(as of July 28, 2011)

Fiscal 2012

Forecasts

(as of October 31, 2011)

        12-11     12-11 540 .0   +12 .2   540 .0   +12 .2        

(5) Foreign Currency Transaction

  Fiscal 2012 Forecast (as of July 28, 2011)   Rates Used for Consolidation* Foreign Currency Transaction** U.S.Dollars ¥83 US$3.8   billion Euro   ¥110   € 1.7   billion * Business plan rate   Fiscal 2012 Forecast (as of October 31, 2011)   Rates Used for Consolidation Foreign Currency Transaction** U.S.Dollars ¥78 US$3.8   billion Euro   ¥110   € 1.7   billion ** These figures are based on the net foreign exchange exposure of the company. Transaction amount of SANYO is included from Fiscal 2012.      

Disclaimer Regarding Forward-Looking Statements

  This document includes forward-looking statements (within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934) about Panasonic and its Group companies (the Panasonic Group). To the extent that statements in this document do not relate to historical or current facts, they constitute forward-looking statements. These forward-looking statements are based on the current assumptions and beliefs of the Panasonic Group in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause the Panasonic Group's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. Panasonic undertakes no obligation to publicly update any forward-looking statements after the date of this document. Investors are advised to consult any further disclosures by Panasonic in its subsequent filings with the U.S. Securities and Exchange Commission pursuant to the U.S. Securities Exchange Act of 1934 and its other filings. The risks, uncertainties and other factors referred to above include, but are not limited to, economic conditions, particularly consumer spending and corporate capital expenditures in the United States, Europe, Japan, China, and other Asian countries; volatility in demand for electronic equipment and components from business and industrial customers, as well as consumers in many product and geographical markets; currency rate fluctuations, notably between the yen, the U.S. dollar, the euro, the Chinese yuan, Asian currencies and other currencies in which the Panasonic Group operates businesses, or in which assets and liabilities of the Panasonic Group are denominated; the possibility of the Panasonic Group incurring additional costs of raising funds, because of changes in the fund raising environment; the ability of the Panasonic Group to respond to rapid technological changes and changing consumer preferences with timely and cost-effective introductions of new products in markets that are highly competitive in terms of both price and technology; the possibility of not achieving expected results on the alliances or mergers and acquisitions including the business reorganization after the acquisition of all shares of Panasonic Electric Works Co., Ltd. and SANYO Electric Co., Ltd. the ability of the Panasonic Group to achieve its business objectives through joint ventures and other collaborative agreements with other companies; the ability of the Panasonic Group to maintain competitive strength in many product and geographical areas; the possibility of incurring expenses resulting from any defects in products or services of the Panasonic Group; the possibility that the Panasonic Group may face intellectual property infringement claims by third parties; current and potential, direct and indirect restrictions imposed by other countries over trade, manufacturing, labor and operations; fluctuations in market prices of securities and other assets in which the Panasonic Group has holdings or changes in valuation of long-lived assets, including property, plant and equipment and goodwill, deferred tax assets and uncertain tax positions; future changes or revisions to accounting policies or accounting rules; natural disasters including earthquakes, prevalence of infectious diseases throughout the world and other events that may negatively impact business activities of the Panasonic Group; as well as direct or indirect adverse effects of the Great East Japan Earthquake and the flooding in Thailand on the Panasonic Group. The factors listed above are not all-inclusive and further information is contained in Panasonic's latest annual reports, Form 20-F, and any other reports and documents which are on file with the U.S. Securities and Exchange Commission.  

Reference

Segment information for fiscal 2012

   

Sales

      Yen (billions)   1st Quarter

(Apr. to Jun.)

2nd Quarter

(Jul. to Sep.)

Digital AVC Networks 660 .6 771 .9 Home Appliances 342 .9 316 .0 PEW and PanaHome 417 .3 461 .9

Components andDevices

205 .5 206 .0 SANYO 324 .0 345 .3 Other 284 .0 269 .9 Subtotal 2,234 .3 2,371 .0 Eliminations -304 .8 -295 .3 Total   1,929 .5   2,075 .7  

Segment profit

      Yen (billions)   1st Quarter

(Apr. to Jun.)

2nd Quarter

(Jul. to Sep.)

Digital AVC Networks -16 .0 -2 .1 Home Appliances 33 .6 19 .0 PEW and PanaHome 10 .6 21 .0

Components andDevices

-7 .5 0 .1 SANYO -14 .0 -12 .9 Other 11 .9 12 .0 Subtotal 18 .6 37 .1

Corporate andeliminations

-13 .0 4 .9 Total   5 .6   42 .0    

< Attachment 2 > Reference

Segment information for fiscal 2011          

Sales

                  Yen (billions)   1st Quarter

(Apr. to Jun.)

2nd Quarter

(Jul. to Sep.)

3rd Quarter

(Oct. to Dec.)

4th Quarter

(Jan. to Mar.)

Full year

(Apr. to Mar.)

Digital AVC Networks 831 .7 826 .1 927 .6 718 .6 3,304 .0 Home Appliances 322 .8 313 .9 337 .5 301 .7 1,275 .9 PEW and PanaHome 391 .2 442 .8 446 .5 454 .5 1,735 .0

Components andDevices

236 .3 244 .6 232 .9 212 .5 926 .3 SANYO 413 .0 416 .7 393 .3 338 .9 1,561 .9 Other 275 .4 285 .0 262 .5 374 .8 1,197 .7 Subtotal 2,470 .4 2,529 .1 2,600 .3 2,401 .0 10,000 .8 Eliminations -309 .3 -322 .3 -314 .8 -361 .7 -1,308 .1 Total   2,161 .1   2,206 .8   2,285 .5   2,039 .3   8,692 .7  

Segment profit

                  Yen (billions)   1st Quarter

(Apr. to Jun.)

2nd Quarter

(Jul. to Sep.)

3rd Quarter

(Oct. to Dec.)

4th Quarter

(Jan. to Mar.)

Full year

(Apr. to Mar.)

Digital AVC Networks 27 .9 33 .4 39 .9 13 .7 114 .9 Home Appliances 32 .3 16 .8 32 .8 10 .4 92 .3 PEW and PanaHome 8 .3 22 .5 23 .2 19 .0 73 .0

Components andDevices

11 .8 13 .7 3 .6 3 .9 33 .0 SANYO 5 .0 1 .1 -5 .7 -8 .4 -8 .0 Other 12 .8 10 .2 12 .2 17 .7 52 .9 Subtotal 98 .1 97 .7 106 .0 56 .3 358 .1

Corporate andeliminations

-14 .3 -12 .5 -10 .7 -15 .3 -52 .8 Total   83 .8   85 .2   95 .3   41 .0   305 .3            

< Attachment 3 > Reference

Segment information for fiscal 2010

 

Sales

                 

Yen (billions)

  1st Quarter

(Apr. to Jun.)

2nd Quarter

(Jul. to Sep.)

3rd Quarter

(Oct. to Dec.)

4th Quarter

(Jan. to Mar.)

Full year

(Apr. to Mar.)

Digital AVC Networks 773 .3 830 .8 974 .1 831 .3 3,409 .5 Home Appliances 306 .6 288 .3 305 .6 303 .7 1,204 .2 PEW and PanaHome 357 .7 416 .0 410 .7 447 .7 1,632 .1

Components andDevices

213 .3 243 .5 246 .9 227 .8 931 .5 SANYO -   -   -   404 .8 404 .8 Other 204 .7 241 .4 231 .6 334 .5 1,012 .2 Subtotal 1,855 .6 2,020 .0 2,168 .9 2,549 .8 8,594 .3 Eliminations -260 .1 -282 .2 -282 .3 -351 .7 -1,176 .3 Total   1,595 .5   1,737 .8   1,886 .6   2,198 .1   7,418 .0  

Segment profit

                 

Yen (billions)

  1st Quarter

(Apr. to Jun.)

2nd Quarter

(Jul. to Sep.)

3rd Quarter

(Oct. to Dec.)

4th Quarter

(Jan. to Mar.)

Full year

(Apr. to Mar.)

Digital AVC Networks -13 .6 26 .3 40 .2 34 .4 87 .3 Home Appliances 18 .6 8 .1 31 .3 8 .1 66 .1 PEW and PanaHome -7 .8 12 .0 17 .4 13 .1 34 .7

Components andDevices

-9 .7 13 .4 19 .2 13 .6 36 .5 SANYO -   -   -   -0 .7 -0 .7 Other -0 .9 3 .0 6 .2 11 .4 19 .7 Subtotal -13 .4 62 .8 114 .3 79 .9 243 .6

Corporate andeliminations

-6 .8 -13 .7 -13 .3 -19 .3 -53 .1 Total   -20 .2   49 .1   101 .0   60 .6   190 .5 Notes:   1.   The company restructured the motor business on April 1, 2010. Accordingly, segment information for Home Appliances, and Components and Devices in fiscal 2010 are reclassified to conform to the presentation for fiscal 2011. 2. SANYO and its subsidiaries became Panasonic's consolidated subsidiaries in December 2009. The operating results of SANYO and its subsidiaries are not included in the company’s consolidated financial statements for the period before December 2009.  

< Attachment 4 > Reference

Primary domain companies' information for fiscal 2012

   

Sales

      Yen (billions)   1st Quarter

(Apr. to Jun.)

  2nd Quarter

(Jul. to Sep.)

AVC Networks Company 350 .7   368 .4 Panasonic Electronic Devices Co., Ltd. 78 .8   88 .4 Factory Automation Business   49 .2   48 .5  

Domain company profit

      Yen (billions)   1st Quarter

(Apr. to Jun.)

  2nd Quarter

(Jul. to Sep.)

AVC Networks Company -29 .8   -19 .2 Panasonic Electronic Devices Co., Ltd. -2 .7   2 .4 Factory Automation Business   6 .7   7 .8

Note:

 

In April 2011, the operations of Panasonic Mobile Communications Co., Ltd. and the System Networks Company were integrated and the Systems & Communications Company was established. Accordingly, in this information, Panasonic Mobile Communications Co., Ltd. has been withdrawn from fiscal 2012.

 

Primary domain companies' information for fiscal 2011

         

Sales

                  Yen (billions)   1st Quarter

(Apr. to Jun.)

2nd Quarter

(Jul. to Sep.)

3rd Quarter

(Oct. to Dec.)

4th Quarter

(Jan. to Mar.)

Full year

(Apr. to Mar.)

AVC Networks Company 419 .8 424 .6 515 .2 341 .0 1,700 .6 Panasonic Mobile Communications Co., Ltd. 66 .1 73 .6 56 .2 47 .5 243 .4 Panasonic Electronic Devices Co., Ltd. 95 .8 98 .1 89 .5 82 .4 365 .8 Factory Automation Business   44 .5   52 .1   38 .3   39 .3   174 .2  

Domain company profit

                  Yen (billions)   1st Quarter

(Apr. to Jun.)

2nd Quarter

(Jul. to Sep.)

3rd Quarter

(Oct. to Dec.)

4th Quarter

(Jan. to Mar.)

Full year

(Apr. to Mar.)

AVC Networks Company -18 .9 1 .0 0 .2 -10 .4 -28 .1 Panasonic Mobile Communications Co., Ltd. 2 .7 3 .6 0 .8 -1 .6 5 .5 Panasonic Electronic Devices Co., Ltd. 3 .2 5 .1 3 .0 1 .1 12 .4 Factory Automation Business   6 .5   8 .9   4 .1   4 .5   24 .0    

Primary domain companies' information for fiscal 2010

 

Sales

                 

Yen (billions)

  1st Quarter

(Apr. to Jun.)

2nd Quarter

(Jul. to Sep.)

3rd Quarter

(Oct. to Dec.)

4th Quarter

(Jan. to Mar.)

Full year

(Apr. to Mar.)

AVC Networks Company 366 .8 435 .5 526 .2 374 .2 1,702 .7 Panasonic Mobile Communications Co., Ltd. 102 .0 63 .9 63 .7 77 .8 307 .4 Panasonic Electronic Devices Co., Ltd. 84 .3 95 .6 97 .3 88 .8 366 .0 Factory Automation Business   15 .9   24 .3   26 .5   33 .9   100 .6  

Domain company profit

                 

Yen (billions)

  1st Quarter

(Apr. to Jun.)

2nd Quarter

(Jul. to Sep.)

3rd Quarter

(Oct. to Dec.)

4th Quarter

(Jan. to Mar.)

Full year

(Apr. to Mar.)

AVC Networks Company -34 .6 1 .7 0 .1 -1 .3 -34 .1 Panasonic Mobile Communications Co., Ltd. 7 .8 1 .9 0 .4 0 .8 10 .9 Panasonic Electronic Devices Co., Ltd. -3 .8 2 .9 4 .6 0 .9 4 .6 Factory Automation Business   -7 .6   -1 .9   0 .1   2 .7   -6 .7