Presentation materials with note (PDF:6,265KB)

• • Good afternoon,

  I'm Yuki Kusumi, Group CEO of Panasonic Holdings Corporation.

• • Thank you very much for participating in this online briefing, despite your very busy schedule.

• • Before we start, I would like to express my concerns regarding the current situation in Ukraine. I offer my deepest condolences to those who have lost family members, and I hope the world will return to peace and security as soon as possible.

• • Now, I would like to start today's briefing on our Group strategy.

• • First, before explaining the details of our new medium- to long-term strategy, I would like to touch on the start of our new structure and look back on the previous medium-term period.

• • Today, April 1, 2022, we changed our corporate name from Panasonic Corporation to Panasonic Holdings Corporation.

  At the same time, we transitioned to a new Group structure by establishing operating companies as independent legal entities.

• • As we have explained, the name Panasonic Corporation has been taken by the previous "Lifestyle Updates Business Division," which was established as a divisional company in October 2021.

• • Under the new Group structure, operating companies play the main role and, therefore, we call this system an "operating company system."

• • Each operating company will make contributions to society and customers, implement thorough autonomous management and accelerate the enhancement of competitiveness.

• • Next, I would like to look back on our achievements during the previous medium-term period.

• • During the three years of FY20 to FY22, we focused on two initiatives:

  Eliminating losses from businesses with loss-making structures and enhancing our management structure.

• • As a result, our cash generation capability has been steadily improving despite experiencing major external business environment changes, including COVID-19.

• • At the briefing held May 2021, I set two years, FY22 and FY23, as the period to focus on enhancing competitiveness to further improve profitability.

  So we will continue with this management effort this year.

• • However, looking back on the first year, FY22, we did take a step forward in enhancing competitiveness, but there is still room for improvement to more firmly embed autonomous management. Thus, during the second year, FY23, we need to make further efforts for thorough implementation.

• • As for the challenges we should take up, in formulating our strategies, we first need to focus on a long-term and customer perspective.

  In a rapidly changing world, I believe we should envisage major social changes instead of simply looking at a period of two to three years.

  What is best for our customers? And how we can translate our great mission into actually achieving our goal by back-casting from those changes.

• • Second, we should improve our adaptability to changes and make our management speedier, to an outstanding level. In order to do this, we must eradicate wastefulness, stagnation, and rework that still exist in many of our business frontlines, so that all employees can focus on truly value-added activities. Furthermore, creating a system and corporate culture that "maximizes the potential of each employee" will be necessary.

• • In today's new medium- to long-term strategy briefing, I would like to explain our Groupwide vision and measures to achieve the future goals of each business, based on the challenges we need to take up.

• • Now, I will explain the details of the new medium- to long-term strategy.