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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Panasonic Corporation    6752   JP3866800000

PANASONIC CORPORATION

(6752)
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Toyota-Panasonic venture to build lithium-ion batteries for hybrids in Japan

10/06/2020 | 02:30am EST
The Panasonic booth is shown during the 2020 CES in Las Vegas

TOKYO (Reuters) - A joint battery venture of Toyota Motor Corp and Panasonic Corp on Tuesday said it will produce lithium-ion batteries for hybrid cars at a plant in Western Japan from 2022 to meet growing demand for electric vehicles (EV).

The production line at a Panasonic factory in Tokushima prefecture will have enough capacity to build batteries for around 500,000 vehicles a year, Prime Planet Energy & Solutions, Inc said in a statement.

"The global electric vehicle market is expected to continue growing rapidly," the company said.

Established in April, Prime Planet Energy is 51% owned by Toyota Motor with Panasonic holding the remaining stake. The venture reflects the drive of both companies to become bigger global players in an industry vital for the development of affordable EVs.

Panasonic, one of the world's biggest EV battery makers, faces intense competition as a battery supplier to global automakers, including Tesla Inc. The other leading players are South Korean and Chinese makers such as Samsung SDI Co, LG Chem and CATL.

Toyota, Japan's biggest carmaker, last month said it expects annual sales of EV vehicles to reach 5.5 million in 2025, five years earlier than initially planned.

(Reporting by Tim Kelly; Editing by Muralikumar Anantharaman and Sherry Jacob-Phillips)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED -0.36% 245.34 End-of-day quote.130.58%
LG CHEM, LTD. 3.55% 816000 End-of-day quote.157.01%
LG CORP. -1.28% 77200 End-of-day quote.4.61%
PANASONIC CORPORATION 0.13% 1126.5 End-of-day quote.9.42%
SAMSUNG ELECTRONICS CO., LTD. 2.10% 68000 End-of-day quote.21.86%
SAMSUNG SDI CO., LTD. 2.23% 550000 End-of-day quote.133.05%
SDI CORPORATION 9.99% 74.9 End-of-day quote.15.41%
SDI GROUP PLC -0.69% 86.4 Delayed Quote.11.48%
TESLA, INC. 2.05% 585.76 Delayed Quote.600.12%
TOYOTA INDUSTRIES CORPORATION 0.65% 7770 End-of-day quote.22.75%
TOYOTA MOTOR CORPORATION -0.67% 7301 End-of-day quote.-5.35%
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Financials
Sales 2021 6 549 B 62 898 M 62 898 M
Net income 2021 102 B 980 M 980 M
Net Debt 2021 174 B 1 666 M 1 666 M
P/E ratio 2021 25,6x
Yield 2021 2,20%
Capitalization 2 618 B 25 168 M 25 143 M
EV / Sales 2021 0,43x
EV / Sales 2022 0,40x
Nbr of Employees 246 512
Free-Float 90,8%
Chart PANASONIC CORPORATION
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Technical analysis trends PANASONIC CORPORATION
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 1 082,53 JPY
Last Close Price 1 122,00 JPY
Spread / Highest target 28,3%
Spread / Average Target -3,52%
Spread / Lowest Target -40,3%
EPS Revisions
Managers
NameTitle
Kazuhiro Tsuga President, CEO & Representative Director
Shusaku Nagae Chairman
Hirokazu Umeda CFO, Director & Managing Executive Officer
Yoshiyuki Miyabe Chief Technology & Information Officer
Masayuki Matsushita Vice Chairman
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