Matsushita’s home appliance business performed well but core business revenue declined
Matsushita Electric recently released its first fiscal quarter 2016 fiscal year (April 1 to June 30, 2016). According to the data, during the reporting period, the company’s sales amount was 1,758.5 ​​billion yen, down 6% year-on-year; operating profit was 66.9 billion yen, a year-on-year drop of 13%; net profit was 21.7 billion yen, a sharp drop of 63% year-on-year. From the perspective of the business segment, Panasonic’s home appliance business performed well, but core products such as air conditioners, refrigerators, washing machines, and TVs all declined. The decline in these businesses ultimately affected Matsushita's global fiscal first-quarter revenue.
Panasonic's Q1 earnings decline in 2016
According to Panasonic’s first quarter 2016 financial report, sales amounted to 1,758.5 ​​billion yen, down 6% year-on-year; operating profit was 66.9 billion yen, down 13% year-on-year; net profit was 21.7 billion yen, down year-on-year 63%.
Among them, the first fiscal quarter of Panasonic in the Chinese market to achieve revenue of 213.073 billion yen, down 19% year-on-year.
Related industry analysts said that Panasonic China's performance has declined and its contraction in the Chinese market. Matsushita has closed related companies in Shanghai, Northeast China, and Beijing, ending its plasma TV business. Panasonic also adopts a relatively conservative attitude toward the dominant white-power business. As such, it eventually reflected in the financial report, Panasonic sales fell.
Layout high-end market to reverse the situation
In order to cater to the growing demand of China's middle-class consumer groups and further reverse Matsushita’s business performance in China. Matsushita Electric Co., Ltd. has indicated in its 2016 fiscal year that in the Chinese market, Matsushita will gradually shift its focus to the high-end market due to the economic slowdown that has caused the intensification of competition in the home appliance market, speeding up the adoption of high-end small appliances such as hair dryers and beauty appliances, and smart toilets. Products introduced into China.
At present, Panasonic's home appliances business in the domestic market has technical advantages, such as beauty equipment, razors and other products to attract younger consumers; in the white-power business, Panasonic is advancing and exploring the process of high-end. However, Panasonic's air conditioners, refrigerators and other products, compared with domestic manufacturers advantage is not obvious.
It is worth noting that Panasonic is interested in deploying new industries along with the decline of the home appliance industry. As Panasonic has teamed up with Tesla, an American electric vehicle manufacturer, to build a state-of-the-art battery factory, Matsushita hopes to establish its future position in the automotive electronics industry through this investment project. At the 2016 International Consumer Electronics Show (CES), Panasonic displayed Tesla's products in the exhibition area, which indicates that it will develop in the field of automotive avionics and new energy.
In addition, Panasonic also demonstrated overall smart home devices such as wireless kitchen appliances and cloud services at 2016CES. Smart homes and new energy businesses are innovative industries with high technological content and profitability. Japanese companies are implementing high-end product strategies in the home appliance and electronics industries. The backward productivity of low-end manufacturing has long been inconsistent with the industry positioning of Japanese companies.
From Sony, Sharp, and Panasonic, Japan's industrial structure has been fully reflected in the home appliance industry. This is the industry trend. Sony has entered the lithium battery business, 3D electronic products and network services; Sharp strengthens LCD TVs and white electricity, the main health and energy brand; Panasonic takes the new energy, environmental protection field line, the layout of high-end products want to reverse the situation. What will happen in the future? Maybe only time will give you an answer.
Panasonic's Q1 earnings decline in 2016
According to Panasonic’s first quarter 2016 financial report, sales amounted to 1,758.5 ​​billion yen, down 6% year-on-year; operating profit was 66.9 billion yen, down 13% year-on-year; net profit was 21.7 billion yen, down year-on-year 63%.
Among them, the first fiscal quarter of Panasonic in the Chinese market to achieve revenue of 213.073 billion yen, down 19% year-on-year.
Related industry analysts said that Panasonic China's performance has declined and its contraction in the Chinese market. Matsushita has closed related companies in Shanghai, Northeast China, and Beijing, ending its plasma TV business. Panasonic also adopts a relatively conservative attitude toward the dominant white-power business. As such, it eventually reflected in the financial report, Panasonic sales fell.
Layout high-end market to reverse the situation
In order to cater to the growing demand of China's middle-class consumer groups and further reverse Matsushita’s business performance in China. Matsushita Electric Co., Ltd. has indicated in its 2016 fiscal year that in the Chinese market, Matsushita will gradually shift its focus to the high-end market due to the economic slowdown that has caused the intensification of competition in the home appliance market, speeding up the adoption of high-end small appliances such as hair dryers and beauty appliances, and smart toilets. Products introduced into China.
At present, Panasonic's home appliances business in the domestic market has technical advantages, such as beauty equipment, razors and other products to attract younger consumers; in the white-power business, Panasonic is advancing and exploring the process of high-end. However, Panasonic's air conditioners, refrigerators and other products, compared with domestic manufacturers advantage is not obvious.
It is worth noting that Panasonic is interested in deploying new industries along with the decline of the home appliance industry. As Panasonic has teamed up with Tesla, an American electric vehicle manufacturer, to build a state-of-the-art battery factory, Matsushita hopes to establish its future position in the automotive electronics industry through this investment project. At the 2016 International Consumer Electronics Show (CES), Panasonic displayed Tesla's products in the exhibition area, which indicates that it will develop in the field of automotive avionics and new energy.
In addition, Panasonic also demonstrated overall smart home devices such as wireless kitchen appliances and cloud services at 2016CES. Smart homes and new energy businesses are innovative industries with high technological content and profitability. Japanese companies are implementing high-end product strategies in the home appliance and electronics industries. The backward productivity of low-end manufacturing has long been inconsistent with the industry positioning of Japanese companies.
From Sony, Sharp, and Panasonic, Japan's industrial structure has been fully reflected in the home appliance industry. This is the industry trend. Sony has entered the lithium battery business, 3D electronic products and network services; Sharp strengthens LCD TVs and white electricity, the main health and energy brand; Panasonic takes the new energy, environmental protection field line, the layout of high-end products want to reverse the situation. What will happen in the future? Maybe only time will give you an answer.
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