Hirokazu Umeda | Chief Financial Officer |
Junya Ayada | JPMorgan |
Masahiro Ono | Morgan Stanley |
Yu Okazaki | Nomura Securities |
I will go over the consolidated financial results of Panasonic Holdings Corporation for the First Quarter of Fiscal 2023.
First, a summary of the financial results. Overall, sales increased year-on-year despite the impact on production and sales of the Shanghai lockdown and shortages in semiconductors, parts and materials owing to increased sales in automotive batteries and others as well as consolidation of Blue Yonder and the effective exchange rates. Adjusted operating profit decreased. And as increased sales and price revisions and other efforts were unable to offset the impact from changes in the environment, including the lockdown shortages in semiconductors, parts and materials, raw material prices, and higher fixed costs and other negative factors.