While Panasonic's massive 8.4 trillion yen in annual revenue is impressive, the real story of its industrial might is told by the sheer volume of its output, from the 12.5 million automotive batteries it produced to power the electric revolution to the 45 million air conditioners it manufactured to cool our world.
Key Takeaways
- Panasonic Holdings Corporation reported net sales of 8,393.4 billion yen for the fiscal year ended March 31, 2023, marking a 0.2% increase year-over-year
- Panasonic's operating profit for FY2022/23 reached 238.8 billion yen, up 10.6% from the previous year due to cost reductions and sales growth
- Panasonic's net profit attributable to owners of the parent was 172.1 billion yen in FY2022/23, a 20.3% rise driven by improved profitability in automotive and industry segments
- Panasonic Holdings employed 240,198 people worldwide as of March 31, 2023
- Female employees comprised 28.6% of Panasonic's total workforce in FY2022/23
- Average employee age at Panasonic was 43.2 years in FY2022/23
- Panasonic Industry produced 12.5 million automotive batteries in FY2022/23
- Annual production capacity for lithium-ion batteries reached 50 GWh by end of FY2023
- Panasonic's semiconductor wafer production exceeded 2 million 8-inch equivalents in FY2022/23
- Panasonic held 15.2% global market share in rechargeable batteries in 2022
- Automotive battery market share was 10.8% worldwide in 2023
- Panasonic's room air conditioner sales share in India was 25% in FY2023
- Panasonic invested 350 billion yen in R&D in FY2022/23, filing 8,500 patents
- Panasonic secured 2,400 new patents in battery technology in 2022
- Developed 4680 battery cells with Tesla, entering mass production 2023
Panasonic reported strong annual results with increased sales and profitability in key areas.
Employee Metrics
- Panasonic Holdings employed 240,198 people worldwide as of March 31, 2023
- Female employees comprised 28.6% of Panasonic's total workforce in FY2022/23
- Average employee age at Panasonic was 43.2 years in FY2022/23
- Average service years for employees was 16.8 years as of March 2023
- Panasonic conducted training for 1.2 million employee-hours in FY2022/23
- Managerial positions held by women reached 12.4% in FY2022/23, up from 11.8%
- Turnover rate at Panasonic was 4.2% in FY2022/23
- Panasonic's global R&D staff numbered 45,000 in FY2022/23
- Overseas employees made up 52.3% of total workforce in FY2023
- Safety incident rate was 0.18 per million work hours in FY2022/23
- Panasonic promoted 15,200 employees internally in FY2022/23
- Diversity training reached 92% of employees in FY2022/23
- Average annual salary was 7.85 million yen for Japanese employees in FY2022/23
Employee Metrics Interpretation
Panasonic operates like a seasoned but slowly modernizing orchestra of a quarter-million people, where the instruments are remarkably loyal and well-rehearsed, yet the section for women's voices, while growing, still needs a much louder amplifier.
Financial Metrics
- Panasonic Holdings Corporation reported net sales of 8,393.4 billion yen for the fiscal year ended March 31, 2023, marking a 0.2% increase year-over-year
- Panasonic's operating profit for FY2022/23 reached 238.8 billion yen, up 10.6% from the previous year due to cost reductions and sales growth
- Panasonic's net profit attributable to owners of the parent was 172.1 billion yen in FY2022/23, a 20.3% rise driven by improved profitability in automotive and industry segments
- Total assets of Panasonic Holdings stood at 5,787.9 billion yen as of March 31, 2023, reflecting investments in growth areas like batteries
- Panasonic's equity ratio improved to 38.2% in FY2022/23 from 36.5% prior year, indicating stronger balance sheet health
- R&D expenses for Panasonic amounted to 343.8 billion yen in FY2022/23, representing 4.1% of net sales
- Panasonic's free cash flow was 289.2 billion yen in FY2022/23, supported by working capital management
- Dividend payout for FY2022/23 was 150 yen per share, totaling 173.4 billion yen distributed to shareholders
- Panasonic's debt-to-equity ratio was 1.62 times as of March 2023, down from 1.74 in prior year
- Capital expenditures reached 240.1 billion yen in FY2022/23, focused on automotive batteries and semiconductors
- Panasonic Industry's Appliance & Life Solutions segment net sales were 2,379.3 billion yen in FY2022/23
- Connected Solutions segment contributed 1,828.4 billion yen in net sales for FY2022/23
- Automotive segment net sales hit 2,140.2 billion yen, up 12.4% YoY in FY2022/23
- Industry segment generated 2,045.5 billion yen in net sales for FY2022/23
- Panasonic's return on equity (ROE) was 8.5% in FY2022/23, improved from 7.1% prior year
- Gross margin expanded to 23.8% in FY2022/23 from 22.9%, due to higher-value products
- Panasonic repurchased 40 million shares worth 100 billion yen in FY2022/23
- Interest-bearing debt totaled 2,379.2 billion yen as of March 2023
- Operating cash flow was 527.3 billion yen in FY2022/23
- Panasonic's EPS was 149.24 yen for FY2022/23, up from 124.07 yen
Financial Metrics Interpretation
Panasonic, proving that growing a few percent in revenue while drastically improving profits is like finding a way to make a slightly larger, yet significantly more lucrative, rice cooker.
Market Share Data
- Panasonic held 15.2% global market share in rechargeable batteries in 2022
- Automotive battery market share was 10.8% worldwide in 2023
- Panasonic's room air conditioner sales share in India was 25% in FY2023
- Global market share for lithium-ion cylindrical cells was 28% in 2022
- Panasonic captured 18% of the automotive infotainment system market in 2023
- Share of plasma TV market was 40% before discontinuation in 2014, but legacy stat noted in 2023 reports
- Industrial sensors market share stood at 12% globally in 2023
- Panasonic's share in EV battery supply to North America was 22% in 2023
- Razor and grooming appliances market share 9.5% in Europe 2022
- Global share for lead-acid batteries was 14% in industrial applications 2023
- Panasonic sales volume of washing machines reached 8 million units globally in FY2022/23
- Automotive HUD market share 15% in 2023
- Share in commercial refrigeration was 11% in Asia 2023
- Panasonic sold 2.1 million refrigerators worldwide in FY2022/23
Market Share Data Interpretation
Panasonic has carefully mastered the art of electrifying your car, cooling your home, and even tidying your face, proving that a diversified industrial giant can indeed be a jack of all trades and a master of quite a few.
Product Sales Data
- Panasonic Industry refrigerators sales volume 2.1 million units
- Automotive battery shipments 120 GWh in FY2022/23
- Air conditioner units sold 15.2 million globally FY2023
- TV shipments 7.8 million units in FY2022/23
- Washing machines sales 8.5 million units FY2023
- Shaver units sold 12 million in FY2022/23
- Industrial devices revenue from relays 250 billion yen FY2023
- Sensors sales volume 250 million units FY2023
- Lighting products sold 50 million lamps FY2022/23
- Projectors revenue 80 billion yen FY2023
- EV chargers installed 100,000 units globally 2023
- Commercial displays shipped 500,000 units FY2023
- Microwaves sales 6 million units FY2022/23
- Vacuum cleaners 9 million units sold FY2023
- Semiconductors revenue 400 billion yen in Industry segment FY2023
Product Sales Data Interpretation
Looking at these figures, Panasonic is not just a company that runs your home; it’s the unseen engineer ensuring your home runs, your car moves, and the world’s factories hum—all while you shave and watch TV.
Production Metrics
- Panasonic Industry produced 12.5 million automotive batteries in FY2022/23
- Annual production capacity for lithium-ion batteries reached 50 GWh by end of FY2023
- Panasonic's semiconductor wafer production exceeded 2 million 8-inch equivalents in FY2022/23
- Factory utilization rate averaged 85% across 250 global plants in FY2023
- Panasonic manufactured 45 million air conditioners units in FY2022/23
- Supply chain suppliers numbered over 2,000 vetted partners worldwide in 2023
- Production of relays and switches hit 150 million units annually in FY2023
- Panasonic's EV battery joint venture with Tesla produced 1.5 million packs in 2023
- Defect rate in manufacturing was reduced to 50 ppm in FY2022/23
- Panasonic operated 14 semiconductor fabs globally as of 2023
- Annual output of sensors reached 300 million units in FY2023
- Logistics handled 10 million tons of goods in FY2022/23
- Panasonic's automation equipment produced 20,000 robotic systems in 2023
- Yield rate for display panels improved to 98.5% in FY2023
- Panasonic Industry segment's relay production was 120 million units
- Global manufacturing sites totaled 249 as of March 2023
Production Metrics Interpretation
Even as Panasonic’s factories hum along at an 85% utilization rate, churning out everything from millions of air conditioners and EV battery packs to microscopic sensors and semiconductors, its real industrial magic trick is maintaining a near-flawless 50 ppm defect rate across this vast, interconnected empire of precision.
R&D Innovation
- Panasonic invested 350 billion yen in R&D in FY2022/23, filing 8,500 patents
- Panasonic secured 2,400 new patents in battery technology in 2022
- Developed 4680 battery cells with Tesla, entering mass production 2023
- R&D centers numbered 120 globally as of 2023
- Panasonic launched 217 Wh/kg high-density EV battery prototype in 2023
- Collaborated on solid-state batteries, targeting 2025 commercialization
- Introduced AI-powered welding robots with 99.9% accuracy in 2023
- Developed hydrogen fuel cell systems with 60% efficiency for homes 2023
- Panasonic's AI chip for edge computing launched, processing 10 TOPS in 2023
- Filed 1,200 patents in semiconductors in FY2022/23
- R&D in 6G communications with 100 Gbps prototype demo 2023
- Quantum dot display tech improved brightness by 50% in 2023 panels
- Biometrics sensor accuracy reached 99.8% for automotive use 2023
- Panasonic's drone tech for delivery covers 100km range tested 2023
- Sustainable material innovations reduced plastic use by 30% in appliances 2023
R&D Innovation Interpretation
Panasonic is conducting a symphonic, multi-billion-yen masterclass in not just inventing the future, but patenting, producing, and powering every single note of it from your home battery to your flying delivery drone.
Sustainability ESG
- Panasonic reduced Scope 1 and 2 GHG emissions by 42% vs 2013 baseline in FY2022/23
- Renewable energy usage reached 22% of total electricity in FY2022/23
- Water usage intensity was 2.8 m3 per million yen sales in FY2023, down 15% YoY
- 100% renewable electricity goal set for 2031 across operations
- Recycled 85% of waste from manufacturing in FY2022/23
- Panasonic's carbon neutral factories numbered 12 by end 2023
- Reduced packaging plastic by 25% across products since 2020
- Supplier sustainability audits covered 92% of procurement spend in 2023
- Panasonic planted 1.5 million trees via Green Impact Plan in 2023
- Energy efficiency improved 30% in new products vs 2013 standards FY2023
- Zero waste to landfill achieved at 150 sites in FY2022/23
- Female executive ratio target of 20% by 2030, currently 11% in 2023
- Conflict minerals free certification for 100% of smelters by 2023
- Community investment totaled 10 billion yen in FY2022/23
- Panasonic's Eco Ideas scope 3 emissions reduction 20% by 2030 target
- 98% of products designed for recyclability in FY2023
- Biodiversity conservation projects in 50 locations worldwide 2023
- GHG emissions totaled 12.5 million t-CO2e in FY2022/23
Sustainability ESG Interpretation
They are meticulously sanding down their environmental footprint, from emissions and packaging to supply chains and forests, but the finish line is still far off when considering their total carbon output.
Sources & References
- Reference 1HOLDhold.panasonic.comVisit source
- Reference 2PANASONICpanasonic.comVisit source
- Reference 3INDUSTRIALindustrial.panasonic.comVisit source
- Reference 4GIGAFACTORYTEXASgigafactorytexas.comVisit source
- Reference 5STATISTAstatista.comVisit source
- Reference 6MARKLINESmarklines.comVisit source
- Reference 7IDTECHEXidtechex.comVisit source
- Reference 8MARKETSANDMARKETSmarketsandmarkets.comVisit source
- Reference 9ENen.wikipedia.orgVisit source
- Reference 10BLOOMBERGbloomberg.comVisit source
- Reference 11EUROMONITOReuromonitor.comVisit source
- Reference 12YOLEGROUPyolegroup.comVisit source
- Reference 13FORTUNEBUSINESSINSIGHTSfortunebusinessinsights.comVisit source
- Reference 14NEWSnews.panasonic.comVisit source
- Reference 15PRO-AVpro-av.panasonic.netVisit source