Panasonic Corporation reported its consolidated financial results for the nine months ended December 31,2021, of the current fiscal year ending March 31, 2022 (fiscal 2022). The Company also provided the additional information on its consolidated financial forecast for fiscal 2022 including adjusted operating profit.
During the nine months ended December 31, 2021 (fiscal 2022), the global economy
saw progress in economic recovery as a result of a tentative stabilization of COVID-19 cases in Japan as well as many countries in the U.S. and Europe. However, there are still uncertainties over such factors as price surges in natural resources, price increases caused by supply shortages, and ongoing concern regarding the situation of COVID-19 variants.
Therefore, the outlook for world economies remains unclear, although the global and
Japanese economies seem to indicate a phase of moderate recovery. Under such management conditions, Panasonic continues to control fixed costs according to business conditions and to make efforts to capture new business opportunities reflecting changes in society brought about by COVID-19. Through all these efforts, the Company will continue to enhance its management structure in the final year of the Mid-term strategy that started in fiscal 2020. Additionally, in all of our businesses, the Company will identify the areas in which the Company should be aggressive and thoroughly enhance the competitiveness in these areas.
For the nine months ended December 31, 2021, in September 2021, the Company completed its acquisition of the 80% of shares of the U.S. company Blue Yonder Holding, Inc. (“Blue Yonder”), which is one of the leading global providers of specialized supply chain software. As a result, the Company made Blue Yonder a wholly owned subsidiary, together with the 20% of its shares acquired in July 2020. The Company aims to create new value by combining Blue Yonder’s software platform, which offers state-of-the-art artificial intelligence (AI) and machine learning (ML) capabilities, with Panasonic’s manufacturing expertise, which has been cultivated over many years, as well as its edge devices, IoT applications, and sensing technologies. This acquisition will accelerate Panasonic’s and Blue Yonder’s shared vision for an “Autonomous Supply ChainTM” and will provide solutions to customers’ management issues. In addition, Panasonic aims to contribute to global environmental
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