Near-Term Headwinds Offset by Better Outlook of Auto Batteries; Retaining Panasonic FVE of JPY 1,450

Panasonic is a global electronics conglomerate with hundreds of subsidiaries that manufacture and sell items ranging from automotive products to solar panels. However, its core consumer electronics markets have come under assault as competitors with comparable technologies at lower price points have successfully muscled into Panasonic’s markets, reducing the industry’s profits.