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HMC - Panasonic: Back To Consumer Appliances Under New Management
Honda Motor Company Ltd.
Panasonic's automotive battery business contributes approximately 6% of total sales despite being the third-largest global manufacturer.
Key competitors are ramping up manufacturing capacity, whilst Panasonic appears to be circling back to strengthen its appliances business.
The shares do not look particularly expensive, but do not offer much in terms of a business turnaround or secular growth through EVs. We remain sellers.