The company is focusing on integrating AI technology and collaborating with Anthropic to enhance AI-related revenue. Panasonic, once a leader in consumer electronics, is now a significant battery supplier to Tesla and is expanding into software while maintaining relevance in appliances and industrial devices. The company reported a 4% rise in operating profit in the December quarter, driven by its lifestyle and energy segments. Panasonic has benefited from the US Inflation Reduction Act, which offers tax credits to battery factories, and anticipates continued profit growth due to demand for electronic parts and materials for generative AI.
Key takeaways:
- Panasonic Holdings Corp. is planning to cut costs by overhauling personnel and trimming underperforming businesses to focus on AI data centers.
- The company aims to boost its profit by more than ¥150 billion by March 2027 and an additional ¥150 billion by March 2029 through consolidation and restructuring.
- Panasonic is integrating AI technology across its operations and collaborating with Anthropic to enhance AI-related revenue.
- The company is a key battery supplier to Tesla and is expanding its presence in software, while maintaining relevance in appliances and industrial devices.