PCRFY - Panasonic Corporation

Other OTC - Other OTC Delayed Price. Currency in USD
9.44
+0.03 (+0.27%)
At close: 3:59PM EST
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Previous Close9.41
Open9.45
Bid0.000 x 0
Ask0.000 x 0
Day's Range9.41 - 9.47
52 Week Range8.34 - 16.20
Volume124,138
Avg. Volume247,850
Market Cap21.736B
Beta (3Y Monthly)0.99
PE Ratio (TTM)10.51
EPS (TTM)0.898
Earnings DateN/A
Forward Dividend & Yield0.26 (2.80%)
Ex-Dividend Date2018-09-26
1y Target Est15.41
Trade prices are not sourced from all markets
  • Panasonic S1 and S1R full-frame mirrorless cameras hands-on
    Engadget20 days ago

    Panasonic S1 and S1R full-frame mirrorless cameras hands-on

    Panasonic has officially unveiled its first full-frame mirrorless cameras, the S1 and S1R. The cameras beat Nikon and Canon in several ways. As you’d expect from Panasonic, the video capabilities are stellar, and it has a very promising in-body stabilization. There are still some questions around the mount and autofocus, but the cameras are a promising start.

  • Reuters16 days ago

    Japan stocks edge down, earnings caution stops recent gains

    Japan's Nikkei index surrendered modest gains to end lower on Tuesday, snapping a three-day rally as the market digested a slew of corporate earnings. The Nikkei ended 0.19 percent lower at 20,844.45 after ...

  • Reuters16 days ago

    Panasonic shares plunge after profit warning, Tesla's Maxwell deal

    Panasonic Corp shares fell almost 6.5 percent on Tuesday after the electric vehicle (EV) battery maker reported a drop in quarterly earnings and cut its full-year outlook, just as EV partner Tesla Inc branched out in battery tech. The Japanese firm on Monday chopped 9 percent from its operating profit outlook after booking a 19 percent drop in October-December, blaming weak demand for auto components and factory equipment in China, where the economy is slowing. Later on Monday, EV maker Tesla said it had agreed to buy U.S. energy storage company Maxwell Technologies Inc.

  • Panasonic cuts profit outlook on slowing China demand; Tesla business a bright spot
    Reuters16 days ago

    Panasonic cuts profit outlook on slowing China demand; Tesla business a bright spot

    Japan's Panasonic Corp cut its annual profit outlook after disappointing quarterly earnings it blamed on a slowing Chinese economy hit by a trade war with the United States that hurt demand for auto components and factory equipment. Panasonic forecast an operating profit of 385 billion yen (3 billion pounds) for the year ending March, down from the previously predicted 425 billion yen and missing the 420.25 billion yen average of 18 analyst estimates polled by Refinitiv. "Demand for mechatronics, mostly motors, has plunged since November as our clients making equipment for smartphone factories cut their investment," Panasonic Chief Financial Officer Hirokazu Umeda told a briefing.

  • Reuters17 days ago

    Panasonic posts 19 pct drop in Q3 profit, lowers full-year outlook

    Japan's Panasonic Corp reported on Monday a 19 percent drop in third-quarter operating profit and lowered its full-year earnings outlook, even though investment in its battery business with U.S. electric ...

  • Panasonic S1 and S1R hands-on: Feature-packed full-frame cameras
    Engadget19 days ago

    Panasonic S1 and S1R hands-on: Feature-packed full-frame cameras

    Panasonic has officially barged into the full-frame mirrorless fight by launching two new cameras. The S1 is a 24.2-megapixel camera mainly targeting video shooters, while the 47.3-megapixel S1R is for portrait, landscape and other types of high-resolution photography. The new models beat their rivals from Sony, Nikon and Canon in several ways, especially when it comes to stabilization and 4K video.

  • 3 Battery Stocks Positioned to Power Portfolio Gains
    InvestorPlace29 days ago

    3 Battery Stocks Positioned to Power Portfolio Gains

    When looking for the best stocks to invest in, battery stocks generally receive little attention. This likely stems from the fact that few companies market themselves as such. For example, Duracell Inc. functions as a subsidiary of Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B). As such, the public tends to focus on Warren Buffett instead of his battery business. Others such as Interstate Batteries or retailer Batteries Plus Bulbs remain in private hands. * 5 Artificial Intelligence Stocks to Consider Still, as the march toward improved technology progresses, the need for the energy batteries provide continues to grow. Batteries can now power cars and homes. Additionally, advances in solar and the launch of 5G wireless networks mean that the latest tech advances will derive their power from batteries. Given the world's future energy needs, these battery stocks look especially well positioned to power both the tech industry and investor stock gains: InvestorPlace - Stock Market News, Stock Advice & Trading Tips ### Tesla (TSLA) Source: Shutterstock For all of the publicity surrounding its cars, investors should classify Tesla (NASDAQ:TSLA) as one of the more essential battery stocks. Consumers often forget that Tesla also has its Solar City subsidiary, which manufactures solar panels and solar roof tiles. Like the car, all of these products depend on a battery to store the energy. Hence, in truth, the battery serves as the company's core product. Admittedly, I have long seen TSLA stock as one of the only overinflated battery stocks. I respect the accomplishments of Elon Musk. However, I fear that he's a creative genius with little business sense, much like the company's namesake, Nikola Tesla. Still, with TSLA stock now earning a profit, I see a buy case for more risk-tolerant investors. I do not often recommend stocks with a forward P/E ratio of around 64. Still, the P/E means the company now earns a profit. Additionally, analysts predict profit growth in the triple digits through at least 2021. Such income increases make it difficult to count out TSLA. Moreover, its product lines have tremendous implications for both life and business as we know it today. The car battery could greatly reduce the need for fossil fuels. Furthermore, the company's Solar Roof could mean consumer independence from electric utilities. Despite the promise, one cannot overstress Tesla's risks. For one, Mr. Musk's behavior does not inspire confidence. In fact, a layoff announcement to control costs recently led to a one-day stock selloff of about 13%. Also, products such as Solar Roof have not yet become cost effective. Moreover, from a financial perspective, if profit forecasts turn negative, the case for TSLA stock could fall apart. Still, if Tesla lives up to its potential to change the world, Tesla stock will appear cheap at these levels. ### Panasonic (PCRFY) Source: Shutterstock Admittedly, most Americans think of Panasonic (OTCMKTS:PCRFY) as a consumer electronics company. However, PCRFY has moved into battery production in recent years. It has claimed its place among battery stocks by becoming the only approved supplier of lithium-ion batteries for Tesla's cars. It produces these batteries in both Japan and at Tesla's Gigafactory 1 in Nevada. Now, with a new factory in China, Panasonic plans to almost double its production capacity. To say the least, batteries are positioned to serve as one of the PCRFY's bright spots in future years. Also, in an ironic twist, PCRFY stock may allow for an indirect way to profit from Tesla. As one of Tesla's most important partners, it will benefit from Tesla's success. However, if Tesla falls short, Panasonic's eco solutions, appliance and connected solutions divisions will soften the blow. PCRFY stock also carries fewer risks than Tesla financially. PCRFY trades at 9.5 times forward earnings, less than one-sixth Tesla's forward multiple. Also, it expects profit growth of 15.7% next year. It also pays a substantial dividend. Even with currency risk, analysts estimate an annual dividend for 2019 of about 26 cents. This places the dividend yield at around 2.7%. * 7 Dark Horse Stocks You Really Need to Look at for 2019 Despite optimism on this front, PCRFY stock fell for most of 2018. And Panasonic currently trades at about 40% below its 52-week high. However, we could be in the midst of a rebound. The stock has risen by almost 15% since December 24. The realization of double-digit profit increases could also inspire more buyers. No matter what happens in the near term, the unusually low P/E and the growth prospects coming from Tesla could make PCRFY one of the more attractive battery stocks. ### Energizer (ENR) Source: Shutterstock Along with Duracell, Energizer (NYSE:ENR) is one of the names that comes to mind when discussing batteries. Energizer has long served as a common choice when needing a battery for one's flashlight, toy, or portable electronic device. Since 1988, the Energizer bunny has reminded consumers of the power of Energizer batteries and inspired consumer purchases for more than three decades. The company can trace its origins back as far as the 1890s. However, ENR stock came about when the company split from Edgewell Personal Care (NYSE:EPC) in July of 2015. As such, it trades much like the stock of an older company despite its relatively recent IPO. I would recommend ENR stock for investors seeking both income and growth. It has raised its dividend every year in its existence. For 2019, it will pay an annual dividend of $1.20 per share. This brings the yield to just over 2.5%. ENR has also shown steady but significant appreciation. It has risen just under 35% in its 3.5 years of existence. Also, ENR has achieved this despite falling almost 29% from its 52-week high over the last six months. The market hammered ENR stock following its third-quarter revenue miss. Still, I see this as an overreaction. Analysts forecast 25.1% profit growth in 2019. Even if that slows in future years, the low PE, a growing dividend, and the ever-increasing importance of batteries should keep ENR stock in good ste/ad for years to come. As of this writing, Will Healy held no positions in the aforementioned securities. You can follow Will on Twitter at @HealyWriting. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 High-Growth Stocks for the Return of the Bull * The 10 Best Index Funds to Buy and Hold * 10 Lithium Stocks to Buy Despite the Market's Irrationality Compare Brokers The post 3 Battery Stocks Positioned to Power Portfolio Gains appeared first on InvestorPlace.

  • 10 Lithium Stocks to Buy Despite the Market’s Irrationality
    InvestorPlacelast month

    10 Lithium Stocks to Buy Despite the Market’s Irrationality

    Editor's note: This story was previously published in August 2018 and has since been updated and republished. No matter how innovative or utilitarian a new platform may be, all modern technologies require a catalyst to operate. For most devices, this requirement translates into a lithium-based power source. Nowadays, almost everything we use runs on the silver-white metal. Logically, the idea of buying lithium stocks is a frequently made suggestion. However, the markets sometimes deploy their own logic, which seemingly runs counter to the fundamentals. For instance, industry demand for lithium remains robust, and is likely to increase as electronics manufacturers pump out smart devices. Yet the benchmark exchange-traded fund Global X Lithium ETF (NYSEARCA:LIT) is down more than 26% over the past year. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Why the disconnect between lithium stocks and underlying industry demand? Mostly, experts in the field forecasted an overabundance of supply due to mining companies ramping-up production. Additionally, Morgan Stanley analysts predicted a massive drop in the commodity's price over the next few years that could outpace even tremendous demand from electric vehicle companies. The bearish prognostications occurred in the first two months of this year. Unfortunately, lithium and lithium-based battery stocks have largely failed to recover from the sentiment fallout. Granted, the extreme negativity makes this sector incredibly risky. But I also want to remind readers that forecasts are ultimately opinions. They may be well-crafted or well-analyzed opinions, but they're still non-factual expectations of future events. I choose to rely more heavily on actual data. The abundance of evidence demonstrates that lithium demand is increasing in virtually every corner of the broad, technological spectrum. Perhaps mining production could outpace demand. But for now, lithium continues to be among the most highly requested industrial commodities. * 10 High-Growth Stocks for the Return of the Bull Here are my ten picks for lithium stocks to take advantage of the market's irrationality. Source: Shutterstock ### Albemarle (ALB) Several of the lithium stocks that analysts commonly discuss are admittedly speculative affairs. As a result, the downturn in the lithium market has severely and disproportionately impacted the industry's direct competitors. But for a solid, renowned organization like Albemarle (NYSE:ALB), the selloff presents a viable contrarian opportunity. I'm not going to beat around the bush: ALB stock has taken a massive beating, even compared to the lithium industry's bloodbath. Over the past year, shares have lost nearly 40% in the markets. Investors are also getting jittery ahead of the company's second-quarter earnings release. That said, I'm encouraged with some positives in the company's financials. After absorbing a disappointing dip in revenues in 2016, Albemarle bounced back the following year. This year, sales are on pace to exceed 2017 results. In Q1, the chemical specialist boosted revenues to $822 million, a 14% year-over-year lift. As industry demand is only going to get stronger, Albemarle's present weakness is a great entry point. Source: Shutterstock ### Sociedad Quimica y Minera (SQM) For its sheer dominance in the sector, no discussion about lithium stocks is complete without mentioning Sociedad Quimica y Minera (NYSE:SQM). SQM is based in Chile, which according to CNBC enjoys the world's largest lithium reserves. In fact, CNBC was quite emphatic about this point, noting that no other nation comes close to Chile's 7.5 million metric tons of the hotly demanded metal. Unfortunately, as with many other lithium stocks, SQM suffers from a divergence between fundamental bullishness and technical trading. Over the past year, shares are down 27%. At the same time, the worst of the bearishness appears to have subsided. Since the beginning of 2019, SQM is up 12%. This compares very favorably to this past June, when shares lost 7%. One risk factor to watch out for is sales growth. In its last earnings report in Q1, the mining company delivered $519 million, which was dead-even against the year-ago quarter. Obviously, Wall Street will want to see significant improvement in later quarters. * 7 Retail Stocks to Buy for the Rise of Menswear That said, SQM's position as a lithium production leader should bode well for the future, if you're willing to be patient. Source: Tesla ### Tesla (TSLA) If you've followed market news over the past few months, you're well aware that sentiment toward Tesla (NASDAQ:TSLA) was poor. Primarily, questions about the company's cash burn, and its history of making big promises but failing to deliver took a heavy toll on the investment community. Plus, CEO Elon Musk's strange and rude behavior didn't do any favors for TSLA stock. Well, I must hand it to Musk. He did himself, his reputation and his company many favors by owning up to his mistakes. During the recent Q2 conference call, Musk apologized to the analysts that he dismissed in the prior quarter's call. Moreover, he was very upbeat in presenting his guidance for Tesla. Although the Q2 earnings miss was wider than analysts anticipated, Musk reaffirmed his company's commitment to profitable quarters for the second half of the year. Plus, a major announcement was that "in July it was able to repeatedly hit its target of producing 5,000 Model 3 vehicles per week." That's huge as the cash-burn problem previously centered around Model 3 production misses. Of course, I don't want to speak too early, but for me, Tesla is finally back on track. Source: Shutterstock ### Panasonic (PCRFY) Speaking strictly from a product fanbase perspective, few companies generate as much buzz as the aforementioned Tesla. I've repeatedly called Elon Musk eccentric, but that same eccentricity inspires him to create aesthetically and technologically stunning cars. However, many folks might not appreciate just how important of a role Panasonic (OTCMKTS:PCRFY) plays in Tesla's success. When most people hear the name Panasonic, they immediately think about consumer-electronic devices. While that's very much part of their business and legacy, the company is also shifting heavily toward lithium-based technologies. Panasonic and Tesla developed a strong, if somewhat underappreciated partnership. Notably, Panasonic manufactures Tesla vehicles' lithium-ion batteries at Tesla's vaunted Gigafactory. More importantly, all signs point to the two companies continuing their relationship into other business ventures. Call it a corporate "bromance" that looks to be a viable opportunity for long-term gains. This idea gets more credibility considering that PCRFY has suffered the same fate as other lithium and battery stocks. PCRFY is down roughly 36% since the year-ago period. * Take Buffett's Advice: 5 Vanguard Funds to Buy But considering the return of bullish sentiment for Tesla, I believe Panasonic will latch on for the ride up. Source: Shutterstock ### FMC (FMC) As one of the leading lithium and battery stocks in the markets, FMC (NYSE:FMC) is a must-watch name if you're interested in this sector. But admittedly, the past year hasn't panned out too well for the company -- FMC shares were down 12% year-over-year. But the overall poor sentiment in 2018 could change very quickly in 2019. In August, FMC reported a near-doubling of profitability from the year-ago level. For Q2, the company delivered net income of $129.7 million, or 96-cents-per-share. This compared very favorably to Q2 2017, when FMC posted $74.7 million, or 56-cents-per-share. Management stated that the primary catalyst for the profitability boost was its 2017 buyout of DowDuPont's (NYSE:DWDP) agricultural assets. But also noteworthy were lithium sales, which have witnessed a resurgence. This is great news for FMC's upcoming spin-off of its lithium business, slated for October of this year. If you're seeking a direct lithium play, keep a close eye on FMC as the initial public offering draws closer. Source: Shutterstock ### Power Metals (PWRMF) Contrary to what some may believe, not all lithium-mining processes are the same. Currently, the two most popular methods are lithium brines and lithium-cesium tantalum pegmatites, or more commonly referred to as "hard rock." Lithium brines represent the most popular method, but the drawback is that the process is vulnerable to weather-related issues. Given that industry demand for the metal is constantly rising, unfavorable weather could severely impact production. To get around this issue, lithium miners are exploring hard rock, which is essentially weather-independent. One mining company that's putting the hard-rock concept to the test is Power Metals (OTCMKTS:PWRMF). With several projects spread around resource-rich Canada, Power Metals aims to be a significant provider of lithium. Plus, the company's geographically-stable region is a big positive for PWRMF stock. * 7 Companies Apple Should Consider Buying That's the good news. The not-so-great news is that PWRMF is a genuine, over-the-counter penny stock. Shares are down 80% over the past year, which tells you all you need to know. Still, if you're looking for a potentially explosive contrarian play among lithium and battery stocks, Power Metals is it. Just bet carefully and responsibly. Source: Shutterstock ### Lithium Americas (LAC) Lithium Americas (NYSE:LAC) is a direct but completely speculative gamble on the underlying sector's growth potential. While LAC earned itself a healthy does of street cred with its joint venture with Sociedad Quimica y Minera, the company has no production assets. That's not necessarily a deal-breaker as it has legitimate plans to attain those assets. Still, you're taking a risk that management will follow through. And while the markets have not been kind to lithium stocks, LAC has taken the brunt of the damage. Year-over-year, shares have tanked 55%. Clearly, this is not an investment for the faint of heart! Having said that, I believe that analysts' consensus bearishness toward the lithium industry is overplayed. Yes, commodity prices fluctuate year-to-year for various reasons. However, demand for lithium is broadly trending higher. It's not just electric vehicles and other physically imposing technologies that require lithium. Consider that the burgeoning e-cigarette or vaporizer market requires a healthy lithium supply chain to keep running. So long as the drive for innovation exists, so too will lithium demand. This adds some measure of confidence to the otherwise speculative LAC stock. Source: Shutterstock ### Galaxy Resources (GALXF) Most direct plays in the lithium sector invariably involve mining stocks. Even in the best circumstances, commodity miners aren't known for their stability and reliability. That said, one of the better ways to help mitigate this risk is to seek companies with diversified portfolios. Galaxy Resources (OTCMKTS:GALXF) is one such example. Galaxy's primary claim to fame is its Sal de Vida project, located in northwest Argentina. Situated in what industry experts term the "lithium triangle", the area produces more than 60% of global annual lithium supply. Beyond that, GALXF has projects in its native Australia, as well as Canada. Both regions are geopolitically stable, eliminating a major headache for investors. Regarding risk factors, you should note that GALXF is essentially a penny stock with a share price just over $2. Furthermore, its performance reflects the volatility associated with cheap equities, as GALXF has lost nearly 50% in the markets over the past year. * 7 Dark Horse Stocks You Really Need to Look at for 2019 If you're willing to take the chance, bearishness in GALXF has slowed significantly. As a high-risk, high-reward gamble on the lithium industry, Galaxy Resources is an intriguing idea. Source: Shutterstock ### Toshiba (TOSBF) Similar to Panasonic, Toshiba (OTCMKTS:TOSBF) is primarily known for its electronic devices, particularly its laptop computers. While their primary businesses are unlikely to change, Toshiba is shifting resources heavily toward lithium technologies. They have already achieved substantial success with high-power, quick-recharging batteries, with more innovations in the pipeline. And while TOSBF is a legitimate play on lithium-based battery stocks, its multi-varied product portfolio affords it volatility protection. Shares are up roughly 5% YTD, which is a rarity in this sector right now. The other advantage for Toshiba is that the company has suffered from prior missteps. Having got the ugliness out of the way, the company is on a recovery path. This is the opposite of many lithium and battery stocks, which have been on a downward slide in 2018. As such, TOSBF offers meaningful exposure to lithium while effectively acting as a hedge. Source: Shutterstock ### Fujitsu (FJTSY) Japanese tech firm Fujitsu (OTCMKTS:FJTSY) is one of the most respected names in computers and consumer electronics. However, some of their best innovations recently have focused on lithium batteries. For instance, last year, Fujitsu developed a high-voltage lithium battery that doesn't require cobalt materials, which have certain structural disadvantages. Going along with the trends witnessed in other lithium and battery stocks, FJTSY is currently enduring a poor year. Shares are basically flat YTD. That said, FJTSY appears to have hit a bottom in early spring. Since March 23, the tech firm gained 18.5% in the markets. * The Bogle Way: 7 Index Funds for Passive Investors One of the biggest risk factors for Fujitsu is that it's a Japanese company; like its peers, you must have some faith in Japan's economic recovery plan. However, some tangible positives exist, including steadily rising revenues and a fairly solid balance sheet. As of this writing, Josh Enomoto is long TOSBF. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Companies Apple Should Consider Buying * 7 Beaten-Up Housing Stocks Due for a Bounce Back * Take Buffett's Advice: 5 Vanguard Funds to Buy Compare Brokers The post 10 Lithium Stocks to Buy Despite the Market's Irrationality appeared first on InvestorPlace.

  • Elon Musk's Unlikely Partnership With Old Japan Is Blossoming, For Now
    Bloomberglast month

    Elon Musk's Unlikely Partnership With Old Japan Is Blossoming, For Now

    Just two years after the two began operating a giant battery factory on the outskirts of the aptly-named town of Sparks, Panasonic in November said the business will soon be profitable. Musk’s larger-than-life persona and antics hog the headlines but if he succeeds at bringing electric cars to the masses, a lot of the credit goes to Tsuga. Panasonic was already a supplier to Tesla when he took the helm in 2012, but it was the 62-year-old who made the big bet on Musk and sank $1.8 billion into making batteries for the Model 3 at Gigafactory 1.

  • Panasonic's GZ2000 4K OLED TV is for color accuracy fanatics
    Engadgetlast month

    Panasonic's GZ2000 4K OLED TV is for color accuracy fanatics

    After alluding to it during its press conference, Panasonic has unveiled the GZ2000, a 4K OLED TV aimed at folks who want very accurate colors. Panasonic said that its engineers customized the "bespoke" panel to control parameters like brightness and contrast handling. On top of that, it was tuned by one of Hollywood's top colorists, Stefan Sonnenfield, who worked on Wonder Woman and A Star is Born, among other titles.

  • The Wall Street Journal2 months ago

    [$$] Two Former Executives of Panasonic Unit Settle With SEC Over Charges of Accounting Violations

    Paul A. Margis, the former chief executive of Panasonic Avionics Corp., and Takeshi “Tyrone” Uonaga, its former finance chief, reached deals with the SEC. Panasonic Avionics in April agreed to pay $137.4 million to the U.S. Justice Department as part of a deferred-prosecution agreement over a charge it caused the falsification of the financial records of its parent company. Panasonic Corp. agreed at the time to disgorge about $143 million in profits.

  • Reuters2 months ago

    Japanese electronics firms look to re-engineer their design mojo

    Many at Panasonic were puzzled. "Someone said the office full of people wearing this would look weird," said Kang Hwayoung, another member of the 10-person design team. The project is among a range of efforts in the Japanese electronics industry to reinvigorate industrial design.

  • Leica's latest Panasonic rebadge is the 17-megapixel D-Lux 7
    Engadget3 months ago

    Leica's latest Panasonic rebadge is the 17-megapixel D-Lux 7

    Leica is continuing its habit of repackaging Panasonic cameras and charging a premium, although that's not necessarily a bad thing in this case. The company has unveiled the D-Lux 7, a prettier-looking version of Panasonic's LX100 II. It mates Leica's signature, vintage-looking design with a 17-megapixel four-thirds sensor and a 24-75mm equivalent f/1.7-2.8 lens that, combined, can shoot in low light without much fuss.

  • Bloomberg3 months ago

    Porsche Designed a Sleek Machine for China's Rich. It's No Car

    It’s a washing machine designed by the famed sports carmaker for Japan’s Panasonic Corp. The $2,900 appliance is available only in China. With an expanding middle-class that often likes to flaunt its new wealth, China has become the biggest appliance market for Panasonic outside Japan.

  • Panasonic Says Gigafactory Profit in Sight as Tesla Ramps Output
    Bloomberg4 months ago

    Panasonic Says Gigafactory Profit in Sight as Tesla Ramps Output

    Panasonic already makes money on batteries for the Model S and Model X, which it produces domestically, President Kazuhiro Tsuga said in an interview. It’s now ramping up output at the two-year-old Gigafactory in Nevada, which is dedicated to making batteries for the Model 3 but still losing money, he said. “We will be in a position to deliver profits at a very early stage,” Tsuga said, declining to specify a timeline.

  • Reuters4 months ago

    Nikkei falls as Docomo sparks telecom earnings fears; Rakuten rises

    Japan's Nikkei fell on Thursday, pulled down by large cap mobile phone companies after NTT Docomo said lower service fees will start hitting its earnings next year, stoking concerns about the profit outlook for the sector. NTT Docomo Inc said that it would reduce service fees by 20-40 percent in April-June that would affect its earnings from the next fiscal year.

  • Reuters4 months ago

    Panasonic profit weighed by Tesla costs, but in talks for further investment

    Japan's Panasonic Corp on Wednesday reported a decline in quarterly profit far beyond what analysts estimated, as costs rose at the battery plant it jointly runs with U.S. electric vehicle maker Tesla Inc. Business with Tesla has yet to contribute to profit. Panasonic is the exclusive battery cell supplier for Tesla cars.