Panasonic reports six months financial results.
If you can read the complex language of financial reports than download that Panasonic pdf file. It contains the results of the last size months and a forecast for 2013 (see screenshot on top). In very short, the situation ins’t good. TV business is going worse than ever, restructuring expenses are 11 times(!) more expensive than predicted and when it comes to digital cameras that’s what Panasonic writes:
“AVC Networks
Sales decreased by 24% to 690.0 billion yen from 913.6 billion yen a year ago. This result was due mainly to significant sales decline in flat-panel TVs, BD recorders and digital cameras. Segment profit significantly improved to 19.9 billion yen, compared with a loss of 15.7 billion yen a year ago due mainly to fixed cost reductions and restructuring effects.”
Of course Panasonic already announced a long list of actions and some of them are described in the document. I am less worried about the relative small Digital Camera business. That’s not their main core business. Panasonic has to fix the TV business first. On the good side of their report you can notice that Panasonic is doing profit on very future oriented business like green terminology and house electronic stuff.
More info at Bloomberg.
