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Panasonic Corp. ADR (PCRFY)

- OTCPK - Current
  • Sep. 24, 2012, 5:53 AM
    Toyota (TM) intends to launch 21 hybrid vehicles in the next three years and expects sales of at least 1M such units in 2013-2015. Toyota also plans to release a new electric car later this year, for which Panasonic (PC) will provide the battery, and a fuel-cell vehicle by 2015. Separately, Toyota is restarting production in China after suspending output because of protests over the Japan-China islands dispute.
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  • Sep. 23, 2012, 4:20 AM
    Japanese state-backed investment fund Innovation Network is in talks with major manufacturers - reportedly including Toyota (TM) and Panasonic (PC) - about acquiring struggling chipmaker Renesas, which is the subject of a bid of over ¥100B ($1.3B) from KKR. The Japanese government fears that KKR would "cut off the less-profitable operations" that are important for Japanese end users.
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  • Sep. 18, 2012, 5:40 PM
    Chinese official Jin Baisong invokes the specter of a trade war as the best way to "impose sanctions" on Japan. The already-weak Japanese economy would be crippled without Chinese demand, he argues, while China would barely miss a cutoff of exports to Japan. Fitch, meanwhile, threatens ratings downgrades across a range of Japanese exporters if the dispute between the two nations drags on.
  • Aug. 6, 2012, 1:57 PM
    It's not just Sharp (SHCAY.PK) that's feeling the pain caused by a weak TV market: Sony (SNE), Samsung (SSNLF.PK), Panasonic (PC), and LG have all significantly lowered their 2012 sales targets. Sony's target has dropped by 4M to 15.5M, and Samsung's by 10M to 40M. The ripple effects are already being felt by everyone from panel makers (AUO, LPL) to component suppliers (GLW, NXPI, STM) to retailers (HGG, BBY, CONN).
  • Aug. 1, 2012, 9:15 AM
    Premarket gainers: SIMG +28%. LH +13%. BPI +12%. VG +9%. GNW +8%. FTR +7%. PC +7%. GRMN +6%. DGX +6%.
    Losers: CECO -20%. DRIV -17%. TRLG -15%. ARRY -13%. NICE -13%. ENR -10%. HZNP -9%. DWA -7%. SAVE -6%. IDIX -6%. MAPP -6%. STP -5%.
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  • Jul. 31, 2012, 3:58 AM
    More on Panasonic (PC) FQ1: net profit strengthened by cost cuts as company undergoes a massive revamp. Maintains FY forecast for net profit of ¥50B, op profit of ¥260B and sales of ¥8.1T. "Their outlook doesn't suggest a solid turnaround is under way. It continues to be tough for them," said asset manager Makoto Kikuchi prior to the results.
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  • Jul. 31, 2012, 3:22 AM
    Panasonic (PC) FQ1: Swings to net profit of ¥12.81B ($163.9M) from a loss of ¥30.35B a year earlier vs. consensus of ¥8.38B. Revenue -6% to ¥1.815 vs. consensus of ¥1.891T. Operating profit up 7-fold to ¥38.6B vs. consensus of ¥40B. (PR)
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  • Jul. 9, 2012, 6:35 AM
    Panasonic's (PC) restructuring costs for FY 2012/13 could exceed the ¥41B ($515.5M) the company has planned for, new President Kazuhiro Tsuga says. Tsuga adds that the electronics giant will formulate a new business plan by the autumn, and detailed plans for 90 units by February. The sheer number of units indicates what a sprawling mess Panasonic is.
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  • Jun. 25, 2012, 4:31 AM
    Sony (SNE) and Panasonic (PC) agree to a TV tie-up, and will work together to develop a new production technology for large-screen organic LED display panels. The fact that the two rivals are teaming up underscores the financial difficulties facing both companies, each coming off a record annual loss.
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  • Jun. 14, 2012, 6:32 AM
    Panasonic (PC) plans to build a new factory in Europe with the capability to produce as many as a millions washing machines and refrigerators a year. An exec with the company says the move is designed to help Panasonic meet growing demand in regional markets such as Russia and help it take on rivals Whirlpool (WHR) and LG Electronics (LGEAF.PK).
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  • Jun. 7, 2012, 8:07 PM
    Olympus (OCPNY.PK) is considering selling 10% of its shares to a single investor. Likely candidates to make the investment include Sony (SNE) and Panasonic (PC). The firm is expected in the next day or so to reveal a new strategy which will to include capital raising plans.
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  • Jun. 7, 2012, 3:19 AM
    Panasonic (PC) flatly denies any plans to invest in Olympus (OCPNY.PK). A media report yesterday suggested Panasonic was preparing to provide up to $635M.
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  • Jun. 6, 2012, 3:36 AM
    Panasonic (PC) is making final arrangements to provide up to ¥50B ($635M) to Olympus (OCPNY.PK), according to Kyodo news agency. The cash injection would make Panasonic the company's largest shareholder.
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  • May 30, 2012, 4:17 AM
    Sony (SNE) and Panasonic (PC) are the lead contenders to take an equity stake in Olympus (OCPNY.PK), according to the Asahi Shimbun. A decision is expected by the end of June, with the winner likely to take a 10%+ stake worth several hundred million dollars. In Tokyo: Olympus +4%, Sony -1.9%, Panasonic -2.2%.
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  • May 29, 2012, 1:32 AM
    Panasonic (PC) says it may cut more jobs and is thinking about restructuring its operations, sending shares +2.9% in Tokyo. The TV maker shed 36,000 jobs last fiscal year.
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  • May 15, 2012, 8:18 PM
    Japanese stocks lose ground in early trading, as overnight losses in the U.S. and the prospect of new Greek elections weigh on large-cap names. The Nikkei Average fell 0.5% to 8,856: Panasonic (PC -3.4%), Fujitsu (FJTSY.PK -1.6%) and Mitsubishi Motors (MMTOF.PK -1.3%).
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Company Description
Panasonic Corporation is one of the largest electronic product manufacturers in the world, comprised of over 634 companies. It manufactures and markets a wide range of products under the Panasonic brand to enhance and enrich lifestyles all around the globe.
Country: Japan