Interim report
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Panasonic Holdings Corporation Corporate Finance, Accounting & IR Department (Tel: +81-6-6908-1121) (Japan) July 30, 2025 FOR IMMEDIATE RELEASE Panasonic Holdings Reports Consolidated Financial Results for Three Months Ended June 30, 2025 Osaka, Japan, July 30, 2025 -- Panasonic Holdings Corporation ( [TSE:6752] the "Company") today reported its consolidated financial results for the three months ended June 30, 2025, of the current fiscal year ending March 31, 2026 (fiscal 2026). - 1 - Consolidated Financial Results for Fiscal 2026 Three Months, Ended June 30, 2025
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Summary of Consolidated Financial Results for Three Months Ended June 30, 2025 [IFRS] July 30, 2025 Company Name: Panasonic Holdings Corporation Listed Exchanges: Tokyo / Nagoya Security Code: 6752 URL: https://holdings.panasonic/global/ Representative: Yuki Kusumi, Representative Director, President Scheduled Date for Dividend Payment: - Preparation of Supplemental Financial Data: Yes Holding of briefing on financial results: Yes (for Journalists, Institutional Investors & Analysts) (1) Consolidated Operating Results (% represents changes compared with the same period of the previous fiscal year) Net sales Operating profit Profit before income taxes Net profit Net profit attributable to Panasonic Holdings Corporation stockholders Total comprehensive income Three Months ended Yen (million) % Yen (million) % Yen (million) % Yen (million) % Yen (million) % Yen (million) % June 30, 2025 1,896,691 (10.6) 86,903 3.8 90,977 (13.1) 77,085 1.1 71,463 1.2 (31,515) － June 30, 2024 2,121,689 4.5 83,761 (7.3) 104,713 (3.7) 76,239 (63.1) 70,633 (64.8) 387,079 (28.0) Basic earnings per share Diluted earnings per share Yen Yen Three Months ended June 30, 2025 30.61 30.60 Three Months ended June 30, 2024 30.26 30.25 Total assets Total equity Panasonic Holdings Corporation stockholders’ equity Ratio of Panasonic Holdings Corporation stockholders’ equity to total assets As of Yen (million) Yen (million) Yen (million) % June 30, 2025 9,265,885 4,764,482 4,590,120 49.5 March 31, 2025 9,343,191 4,874,829 4,694,421 50.2 Annual dividends End of 1st Quarter End of 2nd Quarter End of 3rd Quarter End of Fiscal Year Total Yen Yen Yen Yen Yen Fiscal 2025 － 20.00 － 28.00 48.00 Fiscal 2026 － Fiscal 2026 (Forecast) － － － － (% represents changes compared with the same period of the previous fiscal year) Net sales Operating profit Profit before income taxes Net profit attributable to Panasonic Holdings Corporation stockholders Basic earnings per share Yen (million) % Yen (million) % Yen (million) % Yen (million) % Yen Full Year 7,800,000 (7.8) 370,000 (13.2) 410,000 (15.7) 310,000 (15.3) 132.79 1. Consolidated Financial Results for Three Months (April 1, 2025 - June 30, 2025) (2) Consolidated Financial Positions 2. Dividends Note: Revision in the dividends forecast from latest financial announcement: None Dividend forecast for fiscal 2026 has not yet been announced. 3. Consolidated Financial Forecast for Fiscal 2026 (April 1, 2025 - March 31, 2026) Note: Revision in the consolidated financial forecast from latest financial announcement: None - 2 - Consolidated Financial Results for Fiscal 2026 Three Months, Ended June 30, 2025
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(i) Total number of issued shares at the end of the period (including treasury stocks) As of June 30, 2025 2,454,446,497 shares As of March 31, 2025 2,454,446,497 shares (ii) Number of treasury stocks at the end of the period As of June 30, 2025 119,843,668 shares As of March 31, 2025 119,857,118 shares (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) For the three months ended June 30, 2025 2,334,581,517 shares For the three months ended June 30, 2024 2,334,330,437 shares -Notes: 1. Significant changes in the scope of consolidation during the period: None 2. Changes in accounting policies and changes in accounting estimates (i) Changes in accounting policies required by International Financial Reporting Standards (IFRS): None (ii) Changes in accounting policies due to other reasons: None (iii) Changes in accounting estimates: None 3. Number of issued shares (ordinary shares) -Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None -Other special matters: A briefing on the financial results is to be held on July 30, 2025, for journalists, institutional investors and analysts. Presentation materials for the briefing and Supplemental Financial Data are available on the Company’s investor relations website. - 3 - Consolidated Financial Results for Fiscal 2026 Three Months, Ended June 30, 2025
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Consolidated Financial Results 1. Overview for Three Months (April 1, 2025 - June 30, 2025) of fiscal 2026 For an overview of the Company’s consolidated financial results for the three months ended June 30, 2025, please refer to "Presentation materials" to be available on the Company’s investor relations website today (July 30, 2025). URL: https://holdings.panasonic/global/corporate/investors/release.html *Please refer to "Fiscal 2026 1st Quarter" on the above-mentioned website. 2. Consolidated Financial Forecast for fiscal 2026 The consolidated financial forecast for fiscal 2026 ending March 31, 2026 remains unchanged from the forecast announced on May 9, 2025. - 4 - Consolidated Financial Results for Fiscal 2026 Three Months, Ended June 30, 2025
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Disclaimer Regarding Forward-looking Statements This press release includes forward-looking statements about Panasonic Holdings Corporation (the "Company") 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. The Company 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 the Company in its subsequent filings under the Financial Instrument and Exchange Act of Japan (the "FIEA") and other publicly disclosed documents. The risks, uncertainties and other factors referred to above include, but are not limited to, economic conditions, particularly consumer spending and demands for corporate capital expenditures in the major markets including, but not limited to, the Americas, Europe, Japan, China and other Asian countries as well as changes of demands for a wide range of electronic products & parts from the industrial world and consumers in various regional markets; excessive currency rate fluctuations of the U.S. dollar, the euro, the Chinese yuan and other currencies against the yen having an impact on costs and prices of the Panasonic Group’s products & services as well as certain other transactions that are denominated in these foreign currencies; increased costs of or limitations on raising funds, because of changes in the fund raising environment including interest rate fluctuations; current or future political or social trends in and outside Japan or changes in rules & regulations of international trade, commerce, R&Ds, production or sales having impact on the Panasonic Group or the business activities in its supply chain; introduction or enhancement of rules & regulations or abolition or reduction of tax benefit or subsidy related mainly to the environment issues including the climate change as well as to responsible supply chain (in terms of human rights, labor, health & safety global environmental conservation, information security, business ethics and others); increased costs resulting from a leakage of customers’ or confidential information from IT systems of the Panasonic Group or its supply chain or business suspension caused by unauthorized access, cyberattacks or any other form of malicious actions on the IT systems or from vulnerability of network-connected products; failure to secure or retain enough workforces to execute its business strategy; failure to retain its competitiveness in a wide range of products & services or in major countries & regions; failure to produce expected results in alliances with other companies or M&A (mergers & acquisitions) activities; failure to produce expected results in current or future business transformations of the Panasonic Group; occurrence or lengthening of disruptions in its supply chain or logistics for or price hikes in parts & materials; downward price pressure or decrease in demands for the products at a level that can be offset with efforts by the Company; failure to respond to future changes in the market needs with technological innovations or to timely utilize new technologies such as AI (Artificial Intelligence); increased costs or losses caused by occurrence of events such as compliance violations (including those related to human rights or labor issues) or serious health & safety accidents in workplaces; increased costs or losses resulting from any defects or quality frauds in products or services of the Panasonic Group; infringement by third parties of intellectual property owned by the Panasonic Group or restrictions on the use of intellectual property owned by third parties; administrative/criminal penalties or compensations/damages claims resulting from violations of laws and regulations; large- scale natural disasters, global pandemics of infectious diseases, terrorism or wars; fluctuations in market prices of securities and other financial assets in which the Panasonic Group has holdings, excessive fluctuations of valuation of non-financial assets, including property, plant and equipment, goodwill and deferred tax assets, or changes or tightening of accounting policies or rules; The factors listed above are not all-inclusive and further information is contained in the most recent English translated version of the Company’s securities reports under the FIEA and any other documents which are disclosed on its website. - 5 - Consolidated Financial Results for Fiscal 2026 Three Months, Ended June 30, 2025
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Yen (millions) June 30, 2025 March 31, 2025 Current assets: 3,479,203 3,615,479 Cash and cash equivalents 742,183 847,561 Trade receivables and contract assets 1,219,229 1,316,172 Other financial assets 169,984 165,475 Inventories 1,075,149 1,022,225 Other current assets 272,658 264,046 Non-current assets: 5,786,682 5,727,712 Investments accounted for using the equity method 482,378 497,393 Other financial assets 194,099 185,686 Property, plant and equipment 1,969,124 1,902,256 Right-of-use assets 273,914 281,148 Other non-current assets 2,867,167 2,861,229 Total assets 9,265,885 9,343,191 Current liabilities: 2,696,306 2,682,753 Short-term debt, including current portion of long-term debt 108,840 107,239 Lease liabilities 62,795 61,682 Trade payables 1,081,870 1,042,509 Other payables and accrued expenses 393,025 463,464 Other financial liabilities 137,738 125,459 Other current liabilities 912,038 882,400 Non-current liabilities: 1,805,097 1,785,609 Long-term debt 1,168,053 1,172,581 Lease liabilities 219,890 226,741 Other non-current liabilities 417,154 386,287 Total liabilities 4,501,403 4,468,362 Panasonic Holdings Corporation stockholders’ equity: 4,590,120 4,694,421 Common stock 259,566 259,566 Capital surplus 506,592 507,956 Retained earnings 3,324,180 3,318,079 Other components of equity 708,784 817,846 Treasury stock (209,002) (209,026) Non-controlling interests 174,362 180,408 Total equity 4,764,482 4,874,829 Total liabilities and equity 9,265,885 9,343,191 Note: Other components of equity breakdown Yen (millions) June 30, 2025 March 31, 2025 Remeasurements of defined benefit plans* － － Financial assets measured at fair value through other comprehensive income (2,599) (3,274) Exchange differences on translation of foreign operations 708,298 820,186 Net changes in fair value of cash flow hedges 3,085 934 Condensed Quarterly Consolidated Statements of Financial Position * Remeasurements of defined benefit plans is directly transferred to Retained earnings from Other components of equity. - 6 - Consolidated Financial Results for Fiscal 2026 Three Months, Ended June 30, 2025
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Yen (millions) Fiscal 2026 Three months ended June 30, 2025 Fiscal 2025 Three months ended June 30, 2024 Percentage FY2026/2025 % % % Net sales 1,896,691 100.0 2,121,689 100.0 89 Cost of sales (1,292,940) (1,490,525) Gross profit 603,751 31.8 631,164 29.7 96 Selling, general and administrative expenses (512,272) (546,817) Share of profit (loss) of investments accounted for using the equity method (917) (3,524) Other income (expenses), net (3,659) 2,938 Operating profit 86,903 4.6 83,761 3.9 104 Finance income 12,698 26,890 Finance expenses (8,624) (5,938) Profit before income taxes 90,977 4.8 104,713 4.9 87 Income taxes (13,892) (28,474) Net profit 77,085 4.1 76,239 3.6 101 Net profit attributable to: Panasonic Holdings Corporation stockholders 71,463 3.8 70,633 3.3 101 Non-controlling interests 5,622 5,606 Condensed Quarterly Consolidated Statements of Profit or Loss and Condensed Quarterly Consolidated Statements of Comprehensive Income Condensed Quarterly Consolidated Statements of Profit or Loss - 7 - Consolidated Financial Results for Fiscal 2026 Three Months, Ended June 30, 2025
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Yen (millions) Fiscal 2026 Three months ended June 30, 2025 Fiscal 2025 Three months ended June 30, 2024 Percentage FY2026/2025 % Net Profit 77,085 76,239 101 Other comprehensive income Items that will not be reclassified to profit or loss: Remeasurements of defined benefit plans 460 (411) Financial assets measured at fair value through other comprehensive income 425 (2,161) Subtotal 885 (2,572) Items that may be reclassified to profit or loss: Exchange differences on translation of foreign operations (112,032) 311,612 Net changes in fair value of cash flow hedges 2,547 1,800 Subtotal (109,485) 313,412 Total other comprehensive income (loss) (108,600) 310,840 Comprehensive income (loss) (31,515) 387,079 － Comprehensive income (loss) attributable to : Panasonic Holdings Corporation stockholders (37,402) 374,518 － Non-controlling interests 5,887 12,561 Condensed Quarterly Consolidated Statements of Comprehensive Income - 8 - Consolidated Financial Results for Fiscal 2026 Three Months, Ended June 30, 2025
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Yen (millions) Fiscal 2026 Three Months ended June 30, 2025 Common stock Capital surplus Retained earnings Other components of equity Treasury stock Panasonic Holdings Corporation stockholders’ equity Non- controlling interests Total equity Balances as of April 1, 2025 259,566 507,956 3,318,079 817,846 (209,026) 4,694,421 180,408 4,874,829 Comprehensive income: Net profit － － 71,463 － － 71,463 5,622 77,085 Remeasurements of defined benefit plans － － － 260 － 260 200 460 Financial assets measured at fair value through other comprehensive income － － － 422 － 422 3 425 Exchange differences on translation of foreign operations － － － (111,888) － (111,888) (144) (112,032) Net changes in fair value of cash flow hedges － － － 2,341 － 2,341 206 2,547 Total comprehensive income (loss) － － 71,463 (108,865) － (37,402) 5,887 (31,515) Transfer from other components of equity to retained earnings － － 7 (7) － － － － Cash dividends － － (65,369) － － (65,369) (10,503) (75,872) Changes in treasury stock － (0) － － (7) (7) － (7) Share-based payment transactions － 17 － － 31 48 － 48 Transactions with non-controlling interests and other － (1,381) － (190) － (1,571) (1,430) (3,001) Balances as of June 30, 2025 259,566 506,592 3,324,180 708,784 (209,002) 4,590,120 174,362 4,764,482 Yen (millions) Fiscal 2025 Three Months ended June 30, 2024 Common stock Capital surplus Retained earnings Other components of equity Treasury stock Panasonic Holdings Corporation stockholders’ equity Non- controlling interests Total equity Balances as of April 1, 2024 259,445 508,274 3,037,982 947,512 (209,137) 4,544,076 177,827 4,721,903 Comprehensive income: Net profit － － 70,633 － － 70,633 5,606 76,239 Remeasurements of defined benefit plans － － － (198) － (198) (213) (411) Financial assets measured at fair value through other comprehensive income － － － (2,502) － (2,502) 341 (2,161) Exchange differences on translation of foreign operations － － － 304,634 － 304,634 6,978 311,612 Net changes in fair value of cash flow hedges － － － 1,951 － 1,951 (151) 1,800 Total comprehensive income (loss) － － 70,633 303,885 － 374,518 12,561 387,079 Transfer from other components of equity to retained earnings － － 5,032 (5,032) － － － － Cash dividends － － (40,851) － － (40,851) (10,358) (51,209) Changes in treasury stock － (0) － － (10) (10) － (10) Share-based payment transactions － 41 － － 28 69 － 69 Transactions with non-controlling interests and other － (1,470) － (394) － (1,864) 9 (1,855) Balances as of June 30, 2024 259,445 506,845 3,072,796 1,245,971 (209,119) 4,875,938 180,039 5,055,977 Condensed Quarterly Consolidated Statements of Changes in Equity - 9 - Consolidated Financial Results for Fiscal 2026 Three Months, Ended June 30, 2025
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Yen (millions) Fiscal 2026 Three months ended June 30, 2025 Fiscal 2025 Three months ended June 30, 2024 Cash flows from operating activities Net profit 77,085 76,239 Adjustments to reconcile net profit to net cash provided by operating activities Depreciation and amortization 97,789 102,503 (Increase) decrease in trade receivables and contract assets 89,868 80,074 (Increase) decrease in inventories (46,032) (37,862) Increase (decrease) in trade payables 40,768 16,532 Other (79,112) (9,486) Net cash provided by (used in) operating activities 180,366 228,000 Cash flows from investing activities Purchase of property, plant and equipment (172,236) (197,453) Proceeds from sale of property, plant and equipment 2,957 5,261 Purchase of investments accounted for using the equity method and other financial assets (12,654) (21,296) Proceeds from sale and redemption of investments accounted for using the equity method and other financial assets 9,680 15,291 Other (22,080) (16,530) Net cash provided (used in) investing activities (194,333) (214,727) Cash flows from financing activities Increase (decrease) in short-term debt 2,005 (3,266) Increase (decrease) in long-term debt (16,273) (22,977) Dividends paid to Panasonic Holdings Corporation stockholders (65,369) (40,851) Dividends paid to non-controlling interests (10,503) (10,358) (Increase) decrease in treasury stock (7) (10) Other 241 193 Net cash provided by (used in) financing activities (89,906) (77,269) Effect of exchange rate changes on cash and cash equivalents, and other (1,505) 62,709 Net increase (decrease) in cash and cash equivalents (105,378) (1,287) Cash and cash equivalents at the beginning of the period 847,561 1,119,625 Cash and cash equivalents at the end of the period 742,183 1,118,338 Condensed Quarterly Consolidated Statements of Cash Flows - 10 - Consolidated Financial Results for Fiscal 2026 Three Months, Ended June 30, 2025
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Notes to consolidated financial statements: 1. Significant subsequent events: Panasonic Connect Co., Ltd. ("Panasonic Connect") terminated in July 2025 its strategic capital alliance agreement entered in July 2024 with ORIX Corporation concerning Panasonic Connect’s projector business and related operations. 2. Assumption for going concern: None 3. Number of consolidated subsidiaries (as of June 30, 2025): 503 Number of companies under the equity method (as of June 30, 2025): 62 - 11 - Consolidated Financial Results for Fiscal 2026 Three Months, Ended June 30, 2025
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Yen (millions) Reportable segments Lifestyle Automotive Connect Industry Energy Other Eliminations and adjustments Consolidated Total Sales: External customers 795,000 － 289,799 273,623 208,922 329,347 － 1,896,691 Intersegment 51,063 － 13,677 9,858 10,334 80,968 (165,900 ) － Total 846,063 － 303,476 283,481 219,256 410,315 (165,900 ) 1,896,691 Segment profit (loss) 34,724 － 5,848 19,427 31,856 14,373 (19,325 ) 86,903 Yen (millions) Reportable segments Lifestyle Automotive Connect Industry Energy Other Eliminations and adjustments Consolidated Total Sales: External customers 815,743 298,273 273,920 224,531 199,544 309,678 － 2,121,689 Intersegment 46,614 2,668 18,283 49,956 12,365 91,652 (221,538) － Total 862,357 300,941 292,203 274,487 211,909 401,330 (221,538) 2,121,689 Segment profit (loss) 23,671 13,575 5,955 17,435 21,614 15,686 (14,175) 83,761 Segment information (i) Fiscal 2026 Three months ended June 30, 2025 (ii) Fiscal 2025 Three months ended June 30, 2024 Notes: 1. Outline of Reportable Segmentation: -The Panasonic Group divides its reportable segments into the following four segments, "Lifestyle," "Connect," "Industry" and "Energy." -"Other" includes operating segments not included in the above reportable segments and other business activities, such as Entertainment & Communication, Housing and sales of raw materials. 2. On April 1, 2025, certain businesses were transferred among segments. In accordance with the segmentation for fiscal 2026, reclassified figures are presented here for fiscal 2025. For the purposes of clarification, the Automotive segment continues to be presented, despite no longer being a reportable segment of the Company with the completion of the share transfer (the "Transfer”) of Panasonic Automotive Systems Co., Ltd. on December 2, 2024. -Regarding sales and profit (loss) of the former Automotive segment’s businesses, those of the businesses that remain in the scope of the Company’s consolidation are included in "Other," while those of the businesses deconsolidated with the completion of the Transfer are included in the Automotive segment for the period until their deconsolidation (approximately eight months) in fiscal 2025. -Included in "Other" is the share of profit (loss) of investments accounted for using the equity method for the deconsolidated businesses for the period after they were deconsolidated. 3. Intersegment transactions are conducted based on arm’s length prices. Segment profit is calculated based on operating profit. 4. The figures in "Eliminations and adjustments" include eliminations of intersegment transactions, adjustments of profits and losses which are not attributable to any segments, and consolidation adjustments. - 12 - Consolidated Financial Results for Fiscal 2026 Three Months, Ended June 30, 2025