Panasonic Corporation is one of the largest electronic product manufacturers in the world, comprised of over 634 companies.
Panasonic Holdings Corporation, formerly Matsushita Electric Industrial Co., Ltd. between 1935 and 2008 and the first incarnation of Panasonic Corporation between 2008 and 2022, is a major Japanese multinational conglomerate company, headquartered in Kadoma, Osaka. It was founded by Kōnosuke Matsushita in 1918 as a lightbulb socket manufacturer. In addition to consumer electronics, of which it was the world’s largest maker in the late 20th century, Panasonic offers a wide range of products and services, including rechargeable batteries, automotive and avionic systems, industrial systems, as well as home renovation and construction.
Panasonic has a primary listing on the Tokyo Stock Exchange and is a constituent of the Nikkei 225 and TOPIX 100 indices. It has a secondary listing on the Nagoya Stock Exchange.
As a result of all the challenges faced by Tesla, its long-time partner Panasonic is also bearing losses. It has lowered its full-year operating profit forecast for its battery unit to ¥115 billion ($771 million) from ¥135 billion, as the demand for Tesla EVs in North America slowed down.
Amid the euphoria of a robust first quarter, Panasonic has decided to maintain its full-year profit predictions.
Panasonic plans to start building these new products in the first quarter of 2023.