maddog27
11 months ago
TOKYO, May 10 (Reuters) - Japan's Panasonic Holdings Corp on Wednesday said it expects net profit to rise to a record high this year on robust auto battery sales and a hefty tax credit in the United States.
The industrial conglomerate, which supplies batteries to U.S. electric vehicle (EV) leader Tesla Inc, is expanding its energy business just as persistently high inflation rates worldwide dampen consumer sentiment.
Panasonic Holdings Corporation (PCRFY)View quote details
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Panasonic predicts net profit will grow 32% from a year earlier to a record 350 billion yen ($2.59 billion) as it expects a tax credit for EV battery operations under the U.S. Inflation Reduction Act to boost its bottom line by 100 billion yen.
The net profit outlook would be up 23% from the prior record for net profit of 284.1 billion yen, set in the year ending in March 2019.
The company sees operating profit of 430 billion yen for the year through March 2024, versus 288.6 billion yen a year earlier. That beats the 383.96 billion yen average of 20 analyst estimates compiled by Refinitiv.
For the fourth quarter of the year ended March 31, Panasonic posted operating profit of 54.4 billion yen. That compared with 83.4 billion yen a year prior and the 59.49 billion yen average of 12 analyst estimates.
(Reporting by Kiyoshi Takenaka; Editing by Christopher Cushing, Muralikumar Anantharaman and Sharon Singleton)
Everything-EV
2 years ago
$MNXXF Close Prices Last 3 Months Price/volumes not adjusted for restructures
Date Ex Sym Open High Low Close Chg Vol #Tr Bid Ask
2022-03-08 Q MNXXF 0.221 0.2358 0.221 0.2347 0.0137 28,771 16 0.221 0.24
2022-03-07 Q MNXXF 0.2231 0.22545 0.221 0.221 -0.01 76,409 24 0.2007 0.24
2022-03-04 Q MNXXF 0.22845 0.2345 0.2255 0.231 -0.009 35,186 11 0.2231 0.24
2022-03-03 Q MNXXF 0.234 0.24 0.22 0.24 0.0052 165,911 35 0.20 0.2694
2022-03-02 Q MNXXF 0.23 0.23615 0.2269 0.2348 0.00505 22,337 15 0.20 0.2449
2022-03-01 Q MNXXF 0.24645 0.2499 0.225 0.22975 0.00175 97,300 25 0.20 0.2695
2022-02-28 Q MNXXF 0.25 0.25 0.22235 0.228 -0.004 36,968 16 0.229 0.245
2022-02-25 Q MNXXF 0.224 0.2364 0.224 0.232 0.0032 10,505 9 0.23 0.2541
2022-02-24 Q MNXXF 0.2251 0.231108 0.215 0.2288 0.0056 102,846 39 0.20 0.231
2022-02-23 Q MNXXF 0.2215 0.23255 0.2215 0.2232 -0.0043 13,138 9 0.22 0.2664
2022-02-22 Q MNXXF 0.22 0.24362 0.22 0.2275 -0.005808 95,107 29 0.2163 0.241
2022-02-21 Q MNXXF 0.2432 0.2446 0.230824 0.233308 -0.007892 0 0
2022-02-18 Q MNXXF 0.2432 0.2446 0.230824 0.233308 -0.007892 54,350 17 0.221 0.27
2022-02-17 Q MNXXF 0.2481 0.2489 0.24 0.2412 -0.0048 19,001 11 0.221 0.2699
2022-02-16 Q MNXXF 0.2398 0.24656 0.2355 0.246 0.0065 190,813 50 0.235 0.27
2022-02-15 Q MNXXF 0.2427 0.2481 0.23355 0.2395 -0.0093 76,500 32 0.23 0.27
2022-02-14 Q MNXXF 0.2422 0.25 0.24 0.2488 0.0007 74,950 21 0.22 0.27
2022-02-11 Q MNXXF 0.2512 0.25819 0.24329 0.2481 -0.0114 30,687 16 0.24 0.27
2022-02-10 Q MNXXF 0.26879 0.26879 0.2592 0.2595 11,130 14 0.2544 0.27
2022-02-09 Q MNXXF 0.245 0.2689 0.245 0.2595 0.0047 43,400 15 0.255 0.27
2022-02-08 Q MNXXF 0.25 0.264025 0.24277 0.2548 0.0048 43,758 12 0.255 0.27
2022-02-07 Q MNXXF 0.245 0.2532 0.2436 0.25 -0.00462 93,314 18 0.24 0.27
2022-02-04 Q MNXXF 0.2496 0.257088 0.2468 0.25462 0.00042 47,180 17 0.245 0.264
2022-02-03 Q MNXXF 0.2556 0.2602 0.24885 0.2542 -0.00784 69,891 24 0.235 0.27
2022-02-02 Q MNXXF 0.27 0.27 0.2593 0.26204 -0.00696 84,915 21 0.255 0.27
2022-02-01 Q MNXXF 0.2543 0.269 0.245 0.269 0.0284 91,506 38 0.2528 0.27
2022-01-31 Q MNXXF 0.2459 0.2459 0.232368 0.2406 0.0006 56,150 19 0.236 0.2476
2022-01-28 Q MNXXF 0.2261 0.245 0.2253 0.24 0.0131 93,394 58 0.22 0.2459
2022-01-27 Q MNXXF 0.25 0.26 0.2269 0.2269 -0.0231 228,122 41 0.2246 0.2496
2022-01-26 Q MNXXF 0.244 0.30 0.244 0.25 0.0328 546,043 57 0.2452 0.27
2022-01-25 Q MNXXF 0.20265 0.22775 0.20265 0.2172 0.0174 51,807 31 0.2019 0.25
2022-01-24 Q MNXXF 0.20 0.2145 0.1896 0.1998 -0.0112 710,276 147 0.197 0.215
2022-01-21 Q MNXXF 0.2153 0.2243 0.2056 0.211 -0.014 115,154 43 0.2048 0.2244
2022-01-20 Q MNXXF 0.22519 0.226568 0.2235 0.225 -0.002 18,170 13 0.223 0.2295
2022-01-19 Q MNXXF 0.213 0.254 0.213 0.227 -0.00576 86,778 32 0.223 0.2394
2022-01-18 Q MNXXF 0.2422 0.2422 0.2265 0.23276 0.00636 175,076 59 0.221 0.2481
2022-01-17 Q MNXXF 0.22095 0.229 0.22095 0.2264 -0.0064 0 0
2022-01-14 Q MNXXF 0.22095 0.229 0.22095 0.2264 -0.0064 23,341 19 0.211 0.2314
2022-01-13 Q MNXXF 0.2338 0.2346 0.227 0.2328 0.0003 43,719 14 0.227 0.2519
2022-01-12 Q MNXXF 0.2337 0.2368 0.218475 0.2325 0.0025 62,670 42 0.2099 0.236
2022-01-11 Q MNXXF 0.23
x1power
5 years ago
I spent hours today trying to decide if I should stay in Pan Sonic . . .
I decided to for now.
The very recently PR wherein Pan and TOY have joined forces to find a way forward in new tech/business projects like battery tech, IOT, home robot companions, and new tech homes in Japan (as a start); means they have read the surviving going forward 'handwriting on the wall'.
Smooth Move by PS . . . as TOY partner is on The White List of foreign companies allowed to sell battery tech in China.
Along with ERIC, PS is experimenting in Colo USA to test a highway/road system that can communicate and pick up vehicle data that is two-way useful for auto safety AND relays travel quality info that is salable to governments and businesses via the Deep Learning AI Cloud.
PS has (I believe that's correct) the right at the NV Giga Factory site to produce and sell excess battery production therein, to anyone in USA it choses to? That little factor means it can still chose to increase battery production in USA, any time anyone else decides to use its battery cells for other EV uses (and still provide Tesla Power Walls battery cell units) also. Not bad Options for PS to hold on to, state-side?
Is PS still going to produce solar cells back in Eastern USA with Tesla? Based on the above . . . I do not see PS going out of business, but rather able to function efficiently as a world class business.
TA wise, is PS bottoming pattern displaying?
How Tariff Wars affect all this . . . who can tell.
Other comments on whether one thinks PS can use NA battery cell plant to sell to all the Americas would be appreciated.
One deciding factor herein could be how the USA economy holds up in coming quarters. Or . . . what better way to get business in Li southern Americas raw materials business . . . but to also offer to produce PS battery power cells therein domestically?
Such a little trick could easily be offered to pull away from
China and NK strategic materials sourcing 'problems'.
Food-for-thought about how to brighten up Free World rare metals supply issues and jointly help our southern neighbors economies.