 This presentation gives Panasonic’s consolidated financial
results for the first quarter of fiscal 2018 (FY18) ended June30, 2017.

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 This shows the summary of the financial results for the firstquarter of FY18.
 Panasonic positions FY18 to make a shift to achieve both sales
and profit growth. In this respect, the Company was able to get
off to a good start by reaching this goal in the first quarter.
 Overall sales increased due to significant growth in theautomotive-related business, including rechargeable batteries,
despite decreased sales in Avionics Business.
 Overall operating profit increased due mainly to profitability
improvement in Industrial Business, where efforts transforming
to the automotive and industrial applications have madeprogress, despite the impact of a decline from lower sales inAvionics Business and hikes in material costs.
 Net profit attributable to Panasonic Corporation stockholders
increased by 19.6 billion yen from the previous year.

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1 This table shows the consolidated financial results for the firstquarter of FY18.
 Sales increased by 5% from the same period last year
particularly due to growth in the automotive-related business.
 Even in real terms, excluding the effect of exchange rates andnew consolidations, sales also increased for three quarters in arow and continued on a growth path.
 Operating profit increased by 12.1 billion yen to 83.9 billion yen
due to the favorable performance of Industrial Business andMobile Solutions Business.
 As a result, profit before income taxes increased by 7.4 billion
yen to 82.0 billion yen, and net profit attributable to PanasonicCorporation stockholders increased by 19.6 billion yen to 48.8
billion yen.

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2 This graph gives a sales analysis by business based on thebusinesses whose sales are disclosed.
 Sales decreased in Avionics Business due to weakening
demand resulting from the downturn in production at aircraft
manufacturers.
 Meantime, sales significantly increased in the automotiverelated business due mainly to the benefits from the newconsolidation of Ficosa, Automotive Business, where theperformance of the automotive electronics business wasfavorable, and Energy Business including automotive batteries.
 In addition, other factors that contributed to the sales increase
included Process Automation Business, where sales ofelectronic component mounting equipment expanded inresponse to increased smartphone production, Air-Conditioner
Business, which recorded sales growth in both Japan andChina, and AVC Business such as TV.

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3 Next, let’s look at year-on-year changes in operating profit.
 As shown here, operating profit increased owing to sales growth
but was also greatly affected by the recent price hikes of rawmaterials.
 To minimize this negative impact, the Company is strengthening
its effort to promote rationalization and also improving fixed-cost
management by reviewing figures as necessary.
 The main factor for an increase in fixed costs was investment ingrowing businesses such as the automotive-related business.
 Meanwhile, other income/loss improved due mainly tointellectual-property-related revenue. Consequently, the overall
operating profit increased by 12.1 billion yen to 83.9 billion yen.

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4 This shows an analysis of year-on-year changes in operating
profit by the businesses whose sales are disclosed.
 Decreased sales in the highly profitable Avionics Business had
a substantial impact on operating profit.
 Meantime, Industrial Business greatly contributed to increased
profit due to the favorable performance of the electromechanicalcontrol business, which is positioned as a high-growth business,
as well as progress made in improving the profitability of theliquid crystal display business and device solutions business.
 Other positive factors included the strong sales of payment
terminals in Mobile Solutions Business and a shift to high-end
models in AVC Business. Consequently, the overall operating
profit increased.
 Regarding the automotive-related business, operating profit
increased only slightly from last year. However, the automotiverelated business is projected to make a full-scale contribution toprofit from the latter half of FY18 to FY19, as originally planned.

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5 Next, this chart shows results by segment.
 Appliances, Eco Solutions, and Automotive & Industrial
Systems showed increased sales and profit, while Connected
Solutions posted decreased sales and profit.
 In Other segment, profit increased mainly due to revenue from
intellectual property. With regard to eliminations andadjustments, profit increased because a loss from business
transfer was recorded last year.
 Now, let me explain the details segment by segment.

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6 Let’s start with the results of Appliances based on
consolidated production and sales.
 Sales increased by 1% from last year in real terms,excluding the effect of exchange rates.
 Commercial Refrigeration & Food Equipment Businessshowed decreased sales due to sluggish demand forshowcases in North America.
 On the other hand, favorable sales were achieved in AirConditioner Business in Japan and China, Major ApplianceBusiness in Japan and Asia, and TVs and other products ofAVC Business.
Thanks to these positive factors, overall sales of Appliances
increased.
 Operating profit increased mainly due to the shift to highvalue-added products, despite the significant impact of rising
prices of raw materials and major components.

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7 Next, let’s look at Eco Solutions.
 Sales increased by 3% from last year in real terms, excluding
the effect of exchange rates.
 In Energy Systems Business, sales increased due to favorable
performance of electrical construction materials in Japan and inAsia, where the housing-related market is growing, despite
decreased sales in the solar business.
 Housing Systems Business showed increased sales due to thefavorable performance of kitchen systems and other waterrelated products, which was achieved through a sales strategythat has been implemented since last fiscal year.
 Operating profit remained at the same level as last year
which included a gain on the sale of land in other income/loss.
However, profit from businesses has improved mainly due toincreased sales in Housing Systems Business.

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8 Next, let’s look at Connected Solutions.
 Sales decreased by 2% from last year in real terms, excluding
the effect of exchange rates.
 This was caused mainly by decreased sales in Avionics
Business due to the impact of scaled-back production by aircraft
manufacturers in response to weakening demand for aircraft.
 Meantime, Process Automation Business showed favorable
sales of electronic component mounting equipment to thesmartphone industry.
 In Mobile Solutions Business, sales increased due to the newconsolidation of Zetes and sales growth in notebook computersand payment terminals in Japan.
As shown here, sales increased in all businesses except
Avionics Business.
 Overall operating profit decreased due to the impact of adecline from lower sales in Avionics Business, despite thegrowth in profit through expanded sales in Process Automation,Mobile Solutions, and other businesses.
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9 Lastly, Automotive & Industrial Systems.
 Sales in real terms excluding the effect of exchange rates
increased by 11% from last year.
 In Automotive Business, the new consolidation of Ficosa andthe growth of existing products greatly contributed to increasedsales.
 In Energy Business, both cylindrical and prismatic automotive
batteries showed significant growth.
 Industrial Business showed increased sales due to growth inautomotive and industrial devices, despite a decline due towithdrawing from the business of LCD panels for TVs.
 Operating profit increased mainly due to profit growth inIndustrial Business, which was achieved by favorable
performance in the electromechanical control business, one of
the high-growth businesses, and improved profit in the LCD
panel business. However, there was a decline in the otherincome/loss due to the impact from the reversal of provision
recorded in the previous year.
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10 Finally, the forecast of other income/loss is disclosed asadditional information to FY18 financial forecast announced
on May 11, 2017. The aim is to enable stakeholders in thecapital market to more accurately evaluate our businesscompetence.
 Toward the attainment of FY18 full-year forecast shown here,
sales and operating profit increased in the first quarter,making a good start.
 Currently, raw material prices are increasing at a greaterpace than expected. However, this negative impact will beminimized through rationalization and fixed-costmanagement.
 From the second quarter onward, Avionics Business isexpected to constrain the drop in sales and operating profit
from last year. Furthermore, the automotive-related businessis expected to make a significant contribution to profit fromthe second half onward. Panasonic will continue to strive forachieving its FY18 financial forecast through comprehensive
company-wide efforts.
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11 Thank you for your continuous support and understanding.

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