Panasonic Group FY2026 Financial Results, FY2027 Forecast, and Group Growth Strategy: Key Points

May 29, 2026

Company / Stories

Panasonic Group FY2026 Financial Results, FY2027 Forecast, and Group Growth Strategy: Key Points

Series:

Panasonic Group announced its FY2026* financial results and Group Growth Strategy on May 12, 2026. This fact sheet provides an overview of the results in an easy-to-understand infographic format. For more detailed information, please refer to the full financial results and presentation.

*In this article, “FY2026” or “FY3/26” refers to the year ended March 31, 2026. In addition, “FY2027” or “FY3/27” refers to the year ending March 31, 2027.

FY3/26 saw a decrease in both sales and profit, but if we take out the Automotive segment, we actually achieved an increase in both sales and adjusted operating profit. For FY3/27, we expect to see increased sales for all segments in real terms, and increased profit for all segments due to higher sales and profit in AI infrastructure-related businesses and the effects of restructuring. We forecast adjusted operating profit of 600 billion yen. The predicted annual dividend for FY3/27 is the highest in our history, at 54 yen per share. *Panasonic Automotive Systems (PAS) has become an equity-method affiliate through a share transfer conducted in December 2024 and has been excluded from the scope of consolidation.
These are the consolidated results for FY3/26. At 8.0487 trillion yen, sales were down 5% from FY3/25, but excluding Automotive results in a 3% increase from FY3/25. The main areas contributing to an increase were AI infrastructure-related businesses (Energy/Industry), avionics and process automation (Connect), and electrical construction materials (Electric Works). Those contributing to a decrease were in-vehicle (Energy), air conditioners (HVAC & CC), and consumer electronics (Smart Life). *Panasonic Automotive Systems (PAS) has become an equity-method affiliate through a share transfer conducted in December 2024 and has been excluded from the scope of consolidation.
These are the consolidated results for FY3/26. Profit decreased due to the deconsolidation of Automotive, restructuring, and other one-time expenses. Adjusted operating profit was 447.4 billion yen. The main areas contributing to an increase were Connect, Electric Works, HVAC & CC, Energy (industrial/consumer), and Industry. Those contributing to a decrease were Energy (in-vehicle) and Smart Life, and the deconsolidation of Automotive also contributed. The annual dividend for FY3/26 was 40 yen per share (no change from the amount announced on August 29).
These are the results for FY3/2026 by segment. Connect saw increased sales and profit, with higher sales in avionics and process automation. Electric Works also achieved increased sales and profit, with higher sales of electrical construction materials for Japan and overseas markets. HVAC & CC, meanwhile saw decreased sales but increased profit, with lower sales of room air-conditioners, higher sales and profit for A2W, and management structure enhancement for commercial air-conditioners and similar. Energy saw increased sales but decreased profit. In the industrial/consumer business in the Energy segment, there were higher sales due to continued growth in demand for energy storage systems for data centers. In-vehicle business was impacted by factors such as US tariffs, ramp-up costs for the Kansas factory, and one-time expenses related to past manufacturing process issues. Industry achieved increased sales and profit; increased sales were driven by continued growth in demand for products like capacitors and multi-layer circuit board materials for information & communication applications such as generative AI servers. Smart Life saw decreased sales and profit, impacted by restructuring expenses related to strengthening the TV business partnership.
These are the full-year forecasts for FY3/27. Sales are expected to increase in real terms in all segments. Sales are forecast to reach 7.6 trillion yen, and adjusted operating profit will reach a new record of 600 billion yen (adjusted operating profit in line with the IFRS). Operating profit and net profit are also expected to increase significantly. To cover risks associated with the deteriorating situation in the Middle East and further memory price hikes, a negative impact of 30 billion yen has been factored in to this adjusted operating profit figure.
These are FY3/27 forecasts by segment, and exclude the effect of exchange rates. All segments are forecast to achieve increased sales and profit. Connect will see increased sales and profit with higher sales in avionics and Blue Yonder. Electric Works is likewise expected to achieve increased sales and profit, with higher sales of electrical construction materials in overseas markets. HVAC & CC’s increased sales and profit will come from higher sales of room air-conditioners, A2W, and in cold chain products. Energy will also achieve increased sales and profit, due to higher sales driven by strong demand in the industrial/consumer business for energy storage systems for data centers, while in in-vehicle business, factors include higher sales in North America and an increase in IRA tax credits. Industry will see increased sales and profit, with higher sales due to continued growth in demand for products (capacitors, multi-layer circuit board materials) for information & communication applications such as generative AI servers. Smart Life will also achieve increased sales and profit due to higher sales in Japan and elsewhere in Asia.
This is the forecast for AI infrastructure-related businesses. The industrial/consumer (data center) business will incorporate strong demand for distributed power supply systems for AI data centers. Overall sales for data centers (including for other AI infrastructure) are forecast to increase with each year: from 322 billion yen in FY3/26 to 550 billion in FY3/27, 800 billion in FY3/28, and 950 billion in FY3/29. The previous target of 800 billion yen is expected to be achieved one year ahead of plan in FY3/2028. As such, the new aim is to achieve approx. threefold growth in FY3/29 compared with FY3/26. As enhancement measures, in addition to expanding production capacity in Japan and North America, we will leverage internal and external resources and technologies to acquire the new technologies required for both systems and devices.
This is the forecast for AI infrastructure-related businesses. In the Industry segment, sales in the infrastructure area, supporting the evolution of AI will double in FY3/29 compared with FY3/26. Sales in the edge area, in which such advancements are extended to applications, will see full-scale commercial expansion in FY3/29 and beyond. Combined AI-related sales for the infrastructure and edge areas are forecast to increase from 230 billion yen in FY3/26 to 270 billion in FY3/27 and 430 billion in FY3/29, almost doubling in three years (with a double-digit operating profit margin). As enhancement measures, we will follow on from our construction of a new multi-layer circuit board materials facility in Thailand with new lines at Suzhou Plant (scheduled to begin operation in FY3/27 3Q) and Guangzhou Plant (scheduled to begin operation in FY3/28 1Q). For conductive polymer capacitors, we will add production lines at multiple sites in Japan and overseas.
This is the Panasonic Group’s growth strategy. As we move toward 2032, a century from founder Konosuke Matsushita’s declaration on the revelation of our corporate mission in 1932, we will focus on the contribution we can make, by working to use energy more efficiently and alleviate frontline labor shortages, and aiming to support AI infrastructure and social operations. As we aspire to fulfill our purpose of achieving an ideal society with affluence both in matter and mind, we will assist social and industrial development and evolve by solving rising social issues over time.
This is the Panasonic Group’s growth strategy. Our policy is to drive the Panasonic Group’s growth through businesses supporting AI infrastructure in the devices area, while in the solutions area we will transform our business model for profit growth in the future. In this roadmap for profitability, under phase 1 adjusted operating profit is forecast to grow from 600 billion yen in FY3/27 to 750 billion or more in FY3/29. In FY3/29 AI infrastructure is predicted to account for an additional 130 billion yen. Under phase 2, we will aim to achieve further growth in profit by contributing to the evolution of customers’ operations.
This shows the direction of our growth phase. After the Group Management Reform, the growth phase begins, during which we will make strategic investments worth 500 billion yen in businesses supporting AI infrastructure, as well as growth investments in the solutions area and other areas. In the devices area, we will aim to achieve FY3/29 sales of approx. 1.4 trillion yen and adjusted operating profit of 290 billion in businesses supporting AI infrastructure. To this end, we will invest in advancing devices and systems and expanding production capacity. In the solutions area, we will take advantage of our predominance in machines in the field (MIF; products installed at customers’ sites and in operation) to broaden service offerings, and support social operations with always-on, energy- and labor-saving solutions. At a briefing about the Panasonic Group’s FY3/26 financial results, FY3/27 forecasts, and growth strategy given on May 12, 2026, Group CEO Yuki Kusumi commented: “The key to growth is the businesses supporting AI infrastructure, and the businesses supporting social operations that leverage our service and engineering capabilities. By the end of FY3/29, we want the businesses supporting AI infrastructure to drive the Groupwide growth. Thus, we will steadily achieve the adjusted operating profit target of at least 750.0 billion yen.”

The content in this website is accurate at the time of publication but may be subject to change without notice.
Please note therefore that these documents may not always contain the most up-to-date information.
Please note that German, Spanish and Chinese versions are machine translations, so the quality and accuracy may vary.

Issued:
Panasonic Holdings Corporation

Panasonic Stories

Related Links

Fiscal 2026 (April 1, 2025–March 31, 2026) Full Year Financial Results Link

Recommended articles

Article Rankings