Higher sales of products like automotive batteries and the new consolidation of Blue Yonder drove the growth.
Domestic net sales rose 96% Y/Y to 736.1 billion yen. Overseas net sales increased 121% Y/Y to 1.24 trillion yen.
Lifestyle segment sales increased by 7% Y/Y to 836.5 billion yen.
Automotive sales increased by 4% Y/Y to 269.6 billion yen, Connect sales increased by 18% Y/Y to 244.8 billion yen, Industry sales increased by 4% Y/Y to 296.5 billion yen, and Energy sales increased by 21% Y/Y to 227.8 billion yen.
The operating profit declined 39% Y/Y to 63.7 billion yen due to the Shanghai lockdown, semiconductor crisis, and higher raw material prices.
The operating margin contracted 260 bps to 3.2%. EPS was 20.97 yen.
Panasonic generated 122.5 billion yen in operating cash flow and held 947.9 billion in cash and equivalents.
Photo by Don McCullough via Flickr
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