The major Japanese electronics company, Panasonic Holdings Corp., has reported an increase in profits and net sales for the 2024 fiscal year. However, it is projecting weaker earnings for the 2025 fiscal year, despite forecasts of increased sales.
Over the past year, the company has seen a substantial 67.2 percent rise in net profits attributable to stockholders, amounting to 443.99 billion Japanese Yen, compared to the 280.56 billion yen from the same period last year.
The earnings per share also saw a significant increase, jumping to 190.15 yen from 113.72 yen a year ago. The company’s profit before tax saw growth of 34.4 percent from the previous year, reaching 425.44 billion yen. Simultaneously, operating income rose by 25.1 percent, totaling 360.96 billion yen.
Net sales also saw growth, albeit a more modest one at 1.4 percent, amounting to 8.50 trillion yen, up from 8.38 trillion yen last year.
Looking ahead to the 2025 fiscal year, expectations are less optimistic. The company projects an attributable profit of 310 billion yen or 126.31 yen per share, marking a 30.2 percent decrease compared to the previous year.
Despite the anticipated decline in profits, Panasonic expects a 5.3 percent increase in operating income, totaling 380 billion yen, and a modest 1.2 percent increase in net sales, amounting to 8.60 trillion yen.
