Panasonic released 2020 financial report with sales around 395.1 billion yuan

Panasonic Group released its fiscal year 2020 (April 2020 to March 2021) financial report on May 10. During the period, the Panasonic Group achieved sales of 6.70 trillion yen (approximately 395.1 billion yuan ), a decrease of 10.6% from the previous fiscal year; realized a net profit of 165 billion yen (approximately 9.719 billion yuan), a decrease of 26.9 from the previous fiscal year %.

It is understood that the Panasonic Group’s sales of less than 7 trillion yen are the first time in 25 years since the 1995 fiscal year. Among them, Panasonic Group’s battery business unit sales fell by 10% to 1,339.4 billion yuan. However, compared with the previous year, the operating profit of the business unit turned from a loss to profit, from a loss of 46.6 billion yen to a profit of 10.9 billion yen.

Regarding the profitability of Panasonic’s battery business unit, Panasonic’s Chief Financial Officer and CFO Umeda Hirowa said: “The value announced in 2020 was negative, but eventually landed with a positive number. This is due to the continuous improvement of in-vehicle equipment and Tesla’s Related businesses have achieved profitability.”

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In terms of quarters, in 2020 Panasonic, although it suffered a significant loss due to the impact of the new crown epidemic in the first quarter, auto sales resumed in the second quarter and realized a turnaround from loss to profitability. Since the third quarter, it has remained at a higher level than the previous year. Level, thus achieving full-year profitability.

Umeda Hirowa further pointed out that Panasonic predicts that in the fiscal year 2121 (April 2021 to March 2022), the profit of the battery business unit will be 50 billion yen because both on-board equipment and onboard batteries are expected to increase sales and profits.

OFweek Lithium Grid noticed that Panasonic is good at nickel-cobalt-aluminum (NVA) technology and silicon-based anode material technology. The cobalt content of cylindrical batteries in cooperation with Tesla has been significantly reduced, and a joint venture with Toyota to build a square battery factory, the overall supply system is relatively closed and stable.

In the whole year of 2020, the relevant data of the global power battery market released by SNE shows that the global installed capacity of power batteries on electric vehicles will reach 137GWh in 2020, a year-on-year increase of 17%. Among them, Panasonic’s installed capacity in 2020 is 25GWh, a year-on-year decrease of 10.71%, and its market share is 18.25%.

Panasonic plans to expand its joint venture plant Giga factory 1 with Tesla by 10% to 39GWh in 2021 and is considering building a large-scale joint venture with Equinor and Hydro in Norway. Joint venture battery factory. In addition, for the new generation of cylindrical battery 46800 that Tesla is developing, Umeda stated that it will establish a verification production line for it in Japan in 2021.