Panasonic Holdings Corporation (OTCPK:PCRFF) Q2 2025 Earnings Call Transcript October 31, 2024 2:30 AM ET
Company Participants
Hirokazu Umeda – Group Chief Financial Officer
Conference Call Participants
Takashi Nakano – Nikkei Newspaper
Ryo Harada – Goldman Sachs
Yu Okazaki – Nomura Securities
Ryosuke Katsura – SMBC Nikko
Kota Ezawa – Citigroup Global Markets Japan
Yasuo Nakane – Mizuho Securities
Hirokazu Umeda
Good evening. I will present the results for the Second Quarter of Fiscal 2025 ended September 30, 2024.
For the second quarter, both sales and profit increased year-on-year. Overall sales increased due to increased sales in Lifestyle, Connect and Industry as well as currency translation despite decreased sales in Automotive and Energy. By business, positive factors were Industry and Energy with favorable sales of generative AI related products, while negative factors were Energy’s Automotive battery business affected by the year-on-year decrease in demand continuing through batteries produced in Japan and price revisions reflecting lower raw material costs. Adjusted operating profit increased overall with increased profit in Connect, Industry and Energy, despite decreased profit in Lifestyle and Automotive. Net profit increased adding the improvements in other income and loss and other factors. Operating cash flows increased year-on-year due to monetization of the IRA tax credit through transferable method. As for the full year forecast, the group wide forecast remains unchanged. However, the forecasts by segment are revised reflecting changes in each business environment. I will explain the details later. Annual dividend is forecasted at 40 yen, a year-on-year increase of 5 yen with a payout ratio of 30% as announced on August 30.
Now the details of the consolidated final results for the second quarter. For the consolidated financial results, sales increased year-on-year by 2% to 2,129.6 billion yen. Sales excluding the effective exchange rates remained the same year-on-year. Adjusted OP increased to 122.2 billion, operating
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