 This presentation gives Panasonic’s consolidated financial
results for fiscal 2019 (FY19) ended March 31, 2019,and its current financial forecast for fiscal 2020 (FY20) ending
March 31, 2020.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

 First, the summary of the financial results for FY19.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

1 This shows the consolidated financial results for FY19.
 Overall sales were 8,002.7 billion yen, the same as previousyear’s level.
 Overall operating profit increased by 31.0 billion yen to411.5 billion yen. This was due mainly to the partial revision of
the pension scheme and temporary profit including disposal ofassets, despite decreased profits in automotive, industrial, andconsumer electronics businesses, along with recording
restructuring expenses.
 Net profit increased by 48.1 billion yen to 284.1 billion yen,with contributions by improvements in income taxes and others.
 ROE improved by 1.3 points to 15.7% from the previous year.
 Sales decreased by 97.3 billion yen, compared to the forecast
announced on February 4, due mainly to revised presentationin certain transactions.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

2 This slide shows details of profit and loss, from operating profit
to net profit.
 Income taxes improved due mainly to one-off effect resulting
from the reorganization of subsidiaries.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

3 Next, let’s look at the results by segment.
Operating profit decreased in all business segments.
 For Appliances, sales and profit decreased due to sluggish sales
mainly in AVC, along with the weakening demand for devices in China.
 For Eco Solutions, overall sales increased due mainly to steady sales inoverseas wiring devices and the impact of new consolidation and growth ofPanasonic Homes.
Operating profit decreased overall, due to recording impairment loss of fixed
assets in solar business, although profits generated from businessincreased due mainly to increased sales.
 For Connected Solutions, sales increased due mainly to favorable sales inProcess Automation.
Operating profit decreased due mainly to the impact of one-off gains
recorded in the previous year.
 For Automotive and Industrial Systems, overall sales increased due toAutomotive and Energy, despite the impact of decreased sales in Industrial
due to weakening market conditions in China.
Operating profit decreased due mainly to an impairment loss of capitalized
development expenses in Automotive and decreased sales in Industrial.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

4 This slide shows an analysis of operating profit, which
improved by 26.5 billion yen compared to the forecast
announced in February.
 Profit generated from business improved by 2.0 billion yen,with contributions by businesses such as Avionics, despite theimpact of decreased sales in automotive cylindrical batteries
and Industrial.
 Other income/loss improved by 24.5 billion yen overall,due to acceleration of disposal of assets and others,
while restructuring businesses with low profitability, such as
solar business.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

5 This slide shows FCF, net cash position, and dividends.
 FCF was 10.3 billion yen in FY19, an increase of 45.9 billion
yen from FY18.
 Going forward, the Company will continue to control
investments strictly, and improve FCF by thoroughly
generating cash flows from operating activities such as
reducing inventory.
 The annual dividend is 30 yen, the same as last year.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

6 Now, I will explain the FY20 full-year forecast.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

7 The Company will carry out reform of its business portfolio in
FY20, the first year of the new Mid-term strategy.
 Sales is expected to decrease, due mainly to sales decreasein Industrial Solutions. This reflects the uncertainty in themacro environment including the situation in China, along with
the impact of portfolio reforms, such as the establishment of a
joint venture related to the town development business, which
was announced today.
 Operating profit and net profit are expected to decrease,due mainly to restructuring expenses and factoring in various
business risks.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

8 This slide shows the full-year consolidated forecast for FY20.
 Sales will decrease by 102.7 billion yen to 7,900.0 billion yen.
 Operating profit will decrease by 111.5 billion yen to300.0 billion yen.
 Net profit will decrease by 84.1 billion yen to 200.0 billion yen.
 ROE is expected to be 10.1%.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

9 This slide shows our operating profit analysis.
 Profit decrease by sales decrease is expected to be 24.0 billion
yen. This is due mainly to business portfolio reform.
 We expect a decrease of 10.0 billion yen from the effect ofexchange rates.
 Regarding fixed cost, investment in Automotive Batteries will
increase. However, business replacement and other reduction
efforts will offset the increase to remain at the same level.
 To offset impacts such as price declines, additional rationalization
efforts will be made. However the improved amount will remain at
7.0 billion yen.
 As a result, profit generated from business is expected todecrease by 27.0 billion yen overall.
 Other income/loss is expected to decrease by 84.5 billion yen.
The business transfer in FY20 will offset the impact from one-off
income/loss in the previous year. However, we expect to incurbusiness restructuring expenses for profitability improvement.
 Overall operating profit is expected to decrease by 111.5 billion
yen.
Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

10 This slide shows the FY20 financial forecasts by segment.
 Starting in FY20, the Company will report based on
the five business segments shown here.
 For the businesses included in each segment, please refer tothe end of this presentation.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

11 First, let’s look at Appliances based on consolidated production
and sales.
 In FY20, we will strengthen our businesses in China and Asia
mainly through air-conditioners and white goods.
 Overall sales are expected to maintain the same level as theprevious year.
Sales are expected to increase in air-conditioners and white
goods in China, and air-conditioners in Asia. On the other hand,sales will decrease in such product categories as TVs, where
we will accelerate our shift to high-end products.
 Operating profit is expected to decrease, mainly impacted byfactored-in market risks and business restructuring expenses,
while we expect increased profit by expanding sales of airconditioners and white goods.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

12 Next, let’s look at Life Solutions.
 In FY20, we are aiming to strengthen overseas businesses in
China, India and other markets, where we expect market
growth in electrical construction materials, such as wiring
devices and lighting equipment. In addition, we will strengthen
our solutions business in Japan for the non-housing market.
 Sales are expected to increase in Lighting and Energy Systems,
which are playing key roles for the electrical construction
materials business, as well as in Panasonic Ecology Systems.
However, overall sales are expected to decrease due to theimpact of Panasonic Homes scheduled to become
unconsolidated in this fiscal year.
 Operating profit is expected to increase, due mainly to gains
from the business transfer related to the establishment of thejoint venture.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

13 Next, let’s look at Connected Solutions.
 In FY20, we will lay the foundation for solution service
businesses pursuing higher profitability, as well as
strengthening the profitability of existing businesses.
 Sales are expected to increase, driven mainly by PSSJ, whichaims to pursue the opportunities provided by Olympics-related
demands and to expand businesses that provide solutions tosocial issues, as well as by stable performance of Process
Automation.
 Operating profit is expected to decrease overall, due toincreasing investments for efforts to strengthen solution service
businesses, while PSSJ sales are expected to increase.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

14 Next, let’s look at the situation for Automotive.
 In FY20, Automotive Solutions will execute management reformthat prioritizes profit growth. In particular, we will focus on
projects in areas where we have competitive advantage.
 For Automotive Batteries, we will make investments in
expanding production of prismatic batteries at our Himeji andDalian factories. For cylindrical batteries, we aim to increase
profitability by improving productivity and utilization at our North
America factory.
 Regarding sales, we expect an overall increase.
While Automotive Solutions is expecting decreased sales
impacted by the product cycle trend, we expect significantly
increased sales from the positive effect of increased productionof both prismatic and cylindrical types.
 As for operating profit, we forecast a loss of 15.0 billion yen.
While we can expect profit from increased sales of Automotive
Batteries and rationalization efforts, we forecast an increase in
fixed costs in line with the ramp-up of production at the Dalianand Himeji factories.
Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

15 Finally, let’s look at Industrial Solutions.
 For FY20, we will focus investments on growth areas in theautomotive- and industrial-use businesses as well as accelerate
our initiatives to change the business structure and pursue higher
operational efficiency.
 For Systems, we will strengthen our sales and development
structures as well as expand our product lineup to provide optimum
solutions that meet customer needs.
 For Devices, we will further enhance the competitiveness of ourproducts, with the aim of expanding market share in the mediumto long-term perspective.
 However, we forecast decreased sales, factoring in the impact of
the severe macro environment, such as that in the China markets.
 On the other hand, operating profit is expected to increase overall
due to efforts to strengthen our management structure, such as
reducing inventory and quality-related losses, in addition toimproved profit in semiconductors and LCD, despite decreased
sales in Systems along with impact of temporary gains in theprevious year.
Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

16 In FY20, the first year of the new Mid-term strategy, we will
carry out business portfolio reform.
 We aim to improve the competitiveness of our businesses
through “Co-creation” with our partners, such as we are doingin the automotive prismatic battery business, announced inJanuary, and the town development business, which wasannounced today.
 In addition, we will improve profitability by implementing
radical measures for low-profitable and unprofitablebusinesses, such as our consumer electronics andsemiconductor businesses. An example is the restructuring of
our solar business.
 During the three-year period of our new strategy, we willfurther promote and accelerate these portfolio management
initiatives, to overcome low profitability and return to a growthtrack.
Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

17 Thank you for your kind attention.

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

18

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

19

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

20

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

21

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

22

Copyright (C) 2019 Panasonic Corporation All Rights Reserved.

23