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Copyright (C) 2012 PanasonicCorporation All Rights Reserved.
Panasonic Group
FY2013 Business Policy
May 11, 2012
Panasonic Corporation
Fumio Ohtsubo
Contents
Contents
1. Achievement
2. FY2013business policy
Copyright (C) 2012 PanasonicCorporation All Rights Reserved.
3
Vision toward 100th anniversary in 2018
Vision toward 100th anniversary in 2018
Panasonic Group filled with
significant growth potential
No.1 ‘Green Innovation Company’
in Electronics Industry
No.1 ‘Green Innovation Company’
in Electronics Industry
Integrate contribution
to both environmental protection
and business growth
Our Vision
Our Vision
Enrich our life with less
energy consumption
Green Transformation 2012 (GT12)
Existing business-oriented
Japan-oriented
Individual product-oriented
New business such as energy
Globally-oriented
Solutions & systems business-
oriented
Accelerate transformation with integration of 3
companies and business reorganization
4
Largest-ever transformation
Established business structure enabling
direct contact with customers
Introduced horizontal group-wide business structure
Maximized synergy
in individual businesses
Eliminated overlap and
downsized
business
Restructuring (1)
Restructuring (1)
Copyright (C) 2012 PanasonicCorporation All Rights Reserved.
5
Flat-panel TV: Integrated business sites, impaired fixed assets and
downsized workforce
Semiconductor: Switched System LSI business to fabless and
downsized R&D resources
FY2012 Business restructuring expense: 767.1 bil. yen
Reduced fixed cost and reformed structure in unprofitable business
Impaired goodwill of SANYO business
Downsized whole group-wide business
Economic slowdown, strong yen
appreciation and floods in Thailand
Downward swing
due to unprofitable business
Restructuring (2)
Restructuring (2)
6
FY2012 Financial Result
FY2012 Financial Result
(vs FY11)
43.7 bil. yen
Operating profit (%)
Operating profit (%)
-261.6 bil. yen
7,846.2 bil. yen
Sales
Sales
-10%
-339.9 bil. yen
Free cash flow
Free cash flow
-606.1 bil. yen
-34.4%
ROE
ROE
-
40.37 mil. tons
(vs FY06)
+5.19 mil. tons
( 0.6%)
-772.2 bil. yen
-846.2 bil. yen
(-9.8%)
Net income / loss(%)
Net income / loss(%)
<attributable to Panasonic Corp.>
<attributable to Panasonic Corp.>
CO
CO
2
2
emission
emission
reduction
reduction
Copyright (C) 2012 PanasonicCorporation All Rights Reserved.
Contents
Contents
1. Achievement
2. FY2013business policy
8
FY2013 Overview
FY2013 Overview
Prove our worth in new business structure
First fiscal year
making restructuring effective
Final fiscal year of GT12
First fiscal year after
group-wide restructuring
Copyright (C) 2012 PanasonicCorporation All Rights Reserved.
FY2013 Financial Forecast
FY2013 Financial Forecast
Operating profit (%)
Operating profit (%)
Sales
Sales
Free cash flow
Free cash flow
ROE
ROE
Net income (%)
Net income (%)
<attributable to Panasonic Corp.>
<attributable to Panasonic Corp.>
(vs FY12)
260.0 bil. yen
+216.3 bil. yen
8,100.0 bil. yen
+3 %
100.0 bil. yen
+439.9 bil. yen
41.00 mil. tons
(vs FY06)
+0.63 mil. tons
(3.2%)
50.0 bil. yen
+822.2 bil. yen
(0.6%)
2.6%
-
CO
CO
2
2
emission
emission
reduction
reduction
[Sales growth %]
[Operating profit margin %]
10
Sales and Operating Profit by Segment (1)
Sales and Operating Profit by Segment (1)
20
10
0
-10
-20
-10
01020
FY13 Forecast
20
10
0
-10
-20
FY12 Result
(%)
(%)
AVC
AP
ES
SNC
ID
EC
PAS
AP
EC
ID
MS
HCC
ES
MS
HCC
AVC
SNC
PAS
AVC: AVC Networks, AP: Appliances
PAS: Automotive Systems, ID: Industrial Devices, EC: Energy
SNC: Systems & Communications, ES: Eco Solutions
HCC: Healthcare Company, MS: Manufacturing Solutions Company
*HCC and MS are business domain company consolidated basis
Copyright (C) 2012 PanasonicCorporation All Rights Reserved.
11
Sales and Operating Profit by Segment (2)
Sales and Operating Profit by Segment (2)
[Sales] [Operating profit]
FY13 Forecast
Consumer
160.0
Solutions
120.0
Components
& Devices
60.0
Consumer
3.4
Solutions
2.8
Components
& Devices
2.8
(tri. yen) (bil. yen)
Notes: Numbers are sums of all single segments
HCC and MS are business domain company consolidated basis
Business Policy
Business Policy
•Restructure unprofitable business
•Increase profitability in growing businesses
•Create strong B to B business
•Establish profitable comprehensive business models
•Strengthen business structure
Profitability
Product
Change
•Pursue locally-oriented products
•Both engineering and marketing directly contact
with customers
•Be competitive by combining and linking products
•Overcome challenges
•Transform with local leadership
•Reform head office functions
Basic guidelines
Copyright (C) 2012 PanasonicCorporation All Rights Reserved.
13
0
Sales (yen)
Operating Profit (%)
Operating
profit
(yen)
Restructure unprofitable business and
improve profitability
Strengthen growing business
Increase profitability in growing business
to create strong B to B business
Establish comprehensive business model
1
2
3
FY12 Operating profit by product
FY12 Operating profit by product
Improve Profitability
Improve Profitability
1
3
2
1414
Rebuild
unprofitable business
TV Business (1)
TV Business (1)
TV sets
Move into black
Panels
Improve profitability
Reduce fixed cost by improving cost structure
Reduce unprofitable models and shift to
larger size lineup
Globally expand smart TV business
Expand panel usage for non-TV products
Super
energy saving
Omnidirectional
wide viewing angle
High speed
response
Electronic whiteboard, digital signage etc.
>50%
20” 4K2K
<Non-TV product ratio>
Accurate
color reproduction
Medical equipment, tablet PC, game equipment,
ultrabook PC etc.
>10%
LCD
PDP
Copyright (C) 2012 PanasonicCorporation All Rights Reserved.
Price
decline
-50.0
1515
FY12
OP
Cost structure
improvement
Large size lineup
expansion
Usage expansion for
non-TV product
Others
FY13
OP(e)
Increase
approx.130.0
(bil. yen)
70.0
20.0
20.0
60.0
10.0
Restructuring
benefit
Restructure
unprofitable business
TV Business (2)
TV Business (2)
16
FY11 FY12 FY13(e)
Sustainable growth with profitability
183
Sales (MW)
280
450
Toward No. 1
in Japan
Expand business with HIT
+53
+61
Increase profitability
in growing businesses
Solar Business in Japan
Solar Business in Japan
Increase sales through group-wide sales channel
Commence mass production in Malaysia
Create new value cooperating with devices
and equipment
‘Energy creation-
storage linked
system’
(Launched in Mar ‘12)
Solar panel related sales: 110.0 bil. yen
Copyright (C) 2012 PanasonicCorporation All Rights Reserved.
17
Lithium-Ion Battery Business
Lithium-Ion Battery Business
Expand business in all directions
Increase production capacity
in 6 mass production lines
(improve production speed and product quality)
Multiply sales more than five-fold
Improve speed of development and CS
Consumer
Automotive
Strengthen business for ultrabook PC,
tablet PC and smartphone
Back in black
Promote further order reception
Improve cost structure
- 30% for production in China
- 50% for material procurement
in China and Korea
Add high value and high capacity
Change business structure to
enter growing areas
Will supply to more than 10 models in 5 global
majors
Ford
Toyota
Tesla
Suzhou factory
Increase profitability
in growing business
18
Appliances Business (1)
Appliances Business (1)
Overseas sales +20% (vs FY12)
Seek sales opportunities in all products, all regions
Beauty/Healthcare
Cooking appliance
Washing machine
Refrigerator
Air conditioner
EUChinaAsia
>+20% +10+20%
Expand business with stable profitability
+0+10%
North
America
Lighting
Locally oriented products
ECONAVI
Group-wide
Small appliances
Increase profitability
in growing business
(New)
(New)
Note: Numbers are based on local currencies.
CIS
Latin
America
Middle
East
Copyright (C) 2012 PanasonicCorporation All Rights Reserved.
19
Accelerate business expansion with B to B business
Refrigerator
Washing machine
Brazil
(Aug ‘12)
(May ‘13)
Air conditioner
Washing machine
India
(Jan ‘13)
(Jan ‘13)
Washing machine
Refrigerator
Vietnam
(Site expansion)
(Apr ‘13)
New
sites
(Mass production commencement date)
R&D
Life style research centers
R&D centers
Globally expand beauty/grooming/
healthcare product business
Expand ‘Panasonic Beauty’ products
in China and Asia
Appliances Business (2)
Appliances Business (2)
Increase profitability
in growing business
Promote large-sized air conditioning business in
Europe and U.S.
Improve product quality (energy saving),
expand product lineup, strengthen
business structure in Europe and U.S.
2020
Create competitive
B to B business
Solution Business Model
Solution Business Model
Avionics (aircraft AV system) business
Speedy business expansion
M&A and outsourcing
Locally-oriented idea
close to customers
Based in North America
Customer service
Product
Direct contact with customers
Sustainable value growth
O
f
f
e
r
o
u
r
v
a
l
u
e
O
f
f
e
r
o
u
r
v
a
l
u
e
Software and application upgrade
In-flight communication
system
In-flight entertainment system
Repair and maintenance
[...]... from business and industrial customers, as well as consumers in many product and geographical markets; currency rate fluctuations, notably between the yen, the U.S dollar, the euro, the Chinese yuan, Asian currencies and other currencies in which the PanasonicGroup operates businesses, or in which assets and liabilities of the PanasonicGroup are denominated; the possibility of the Panasonic Group. .. impact business activities of the PanasonicGroup as well as direct or indirect adverse effects of the Great East Japan Earthquake on the PanasonicGroup in terms of, among others, component procurement, manufacturing, distribution, economic conditions in Japan including consumer spending and sales activities overseas, and direct or indirect adverse effects of the flooding in Thailand on the Panasonic Group. .. to Panasonic Corporation 24 Toward No.1 ‘Green Innovation Company’ 2018 No.1 ‘Green Innovation Company’ in electronics industry to d n n io s a t bu ue tri iss 2015 n co al h e ent owt t ra m r eg iron ss g t In nv ne Improve profitability toward e u si b ‘Green Innovation Company’ 2012 Establish foundation: integrate 3 companies and restructure group- wide business Copyright (C) 2012 Panasonic Corporation. .. acquisitions including the business reorganization after the acquisition of all shares of Panasonic Electric Works Co., Ltd and SANYO Electric Co., Ltd.; the ability of the PanasonicGroup to achieve its business objectives through joint ventures and other collaborative agreements with other companies; the ability of the PanasonicGroup to maintain competitive strength in many product and geographical areas;... in products or services of the Panasonic Group; the possibility that the PanasonicGroup may face intellectual property infringement claims by third parties; current and potential, direct and indirect restrictions imposed by other countries over trade, manufacturing, labor and operations; fluctuations in market prices of securities and other assets in which the PanasonicGroup has holdings or changes... 21E of the U.S Securities Exchange Act of 1934) about Panasonic and its Group companies (the Panasonic Group) To the extent that statements in this presentation do not relate to historical or current facts, they constitute forward-looking statements These forward-looking statements are based on the current assumptions and beliefs of the PanasonicGroup in light of the information currently available... profit-making business model ‘100 Arrows’ Project Competitive product + Combination and Link + Maintenance and Service Shift from past business model of single product sales Promote group- wide comprehensive business model [FY13] In start-up phase 25 arrows In progress Energy management related: 5 arrows Healthcare/nursing care related: 4 arrows etc 25 arrows Create from both energy management and business. .. from both energy management and business overseas Sales >170 bil yen 22 Strengthen business structure Improve Business Structure Sales Break-even point +7% -7% -0.6% Marginal profit ratio +0.2% -168 bil yen -96.3 bil yen Fixed cost FY11 FY12 FY13(e) Improve key metrics back to level of FY11 Copyright (C) 2012 Panasonic Corporation All Rights Reserved Sales and Operating Profit Sales (bil yen) 8,692.7... environment; the ability of the PanasonicGroup to respond to rapid technological changes and changing consumer preferences with timely and cost-effective introductions of new products in markets that are highly competitive in terms of both price and technology; the possibility of not achieving expected results on the alliances or mergers and acquisitions including the business reorganization after the... uncertainties and other factors Such risks, uncertainties and other factors may cause the PanasonicGroup' s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements Panasonic undertakes no obligation to publicly update any forward-looking statements