FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
The Securities Exchange Act of 1934
For the Month of June 2011
Commission File Number: 1-6784
Panasonic Corporation
Kadoma, Osaka, Japan
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(7):
| 1. | News release issued on June 20, 2011, by Panasonic Corporation, announcing its consolidated financial forecasts for the fiscal year ending March 31, 2012 (fiscal 2012). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Panasonic Corporation | ||
| By: | /S/ MASAHITO YAMAMURA | |
| Masahito Yamamura, Attorney-in-Fact | ||
| General Manager of Investor Relations | ||
| Panasonic Corporation | ||
Dated: June 21, 2011
| FOR IMMEDIATE RELEASE | ||
| Media Contacts: | Investor Relations Contacts: | |
|
Akira Kadota (Japan) Global Public Relations Office (Tel: +81-3-6403-3040)
Panasonic News Bureau (Japan) (Tel: +81-3-3542-6205)
Jim Reilly (U.S.) (Tel: +1-201-392-6067)
Anne Guennewig (Europe) (Tel: +49-611-235-457) |
Makoto Mihara (Japan) Investor Relations (Tel: +81-6-6908-1121)
Yuko Iwatsu (U.S.) Panasonic Finance (America), Inc. (Tel: +1-212-698-1360)
Hiroko Carvell (Europe) Panasonic Finance (Europe) plc (Tel: +44-20-3008-6887) | |
PANASONIC REPORTS FINANCIAL FORECASTS
Osaka, Japan, June 20, 2011 — Panasonic Corporation ([NYSE:PC/TSE:6752] “Panasonic”) today announced its consolidated financial forecasts for the fiscal year ending March 31, 2012 (fiscal 2012).
The company was unable to provide financial forecasts for fiscal 2012 on April 28, as it was difficult to assess the impact of the Great East Japan Earthquake at that time.
The consolidated financial forecasts for fiscal 2012 are as follows.
| <Full Year Forecasts> | (Yen: millions) |
| Net Sales | Operating Profit1 |
Income before income taxes |
Net income attributable to Panasonic Corporation |
Net income attributable to Panasonic Corporation, per common share |
||||||||||||||||
| Fiscal 2012 Forecasts |
8,700,000 | 270,000 | 100,000 | 30,000 | 12.97 yen | * | ||||||||||||||
| <Reference> Fiscal 2011 Results |
8,692,672 | 305,254 | 178,807 | 74,017 | 35.75 yen | |||||||||||||||
| * | calculated with the number of shares issued after the share exchanges for the shares of Panasonic Electric Works Co., Ltd. and SANYO Electric Co., Ltd. on April 1, 2011 |
| 1 | In order to be consistent with generally accepted financial reporting practices in Japan, operating profit, a non-GAAP measure, is presented as net sales less cost of sales and selling, general and administrative expenses. The company believes that this is useful to investors in comparing the company's financial results with those of other Japanese companies. |
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Panasonic Corporation is one of the world's leading manufacturers of electronic and electric products for consumer, business and industrial use. Panasonic’s shares are listed on the Tokyo, Osaka, Nagoya and New York stock exchanges.
For more information, please visit the following web sites:
Panasonic home page URL: http://panasonic.net/
Panasonic IR web site URL: http://panasonic.net/ir/
Disclaimer Regarding Forward-Looking Statements
This press release includes forward-looking statements (within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934) about Panasonic and its Group companies (the Panasonic Group). To the extent that statements in this press release do not relate to historical or current facts, they constitute forward-looking statements. These forward-looking statements are based on the current assumptions and beliefs of the Panasonic Group in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause the Panasonic Group's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. Panasonic undertakes no obligation to publicly update any forward-looking statements after the date of this press release. Investors are advised to consult any further disclosures by Panasonic in its subsequent filings with the U.S. Securities and Exchange Commission pursuant to the U.S. Securities Exchange Act of 1934 and its other filings.
The risks, uncertainties and other factors referred to above include, but are not limited to, economic conditions, particularly consumer spending and corporate capital expenditures in the United States, Europe, Japan, China and other Asian countries; volatility in demand for electronic equipment and components from business and industrial customers, as well as consumers in many product and geographical markets; currency rate fluctuations, notably between the yen, the U.S. dollar, the euro, the Chinese yuan, Asian currencies and other currencies in which the Panasonic Group operates businesses, or in which assets and liabilities of the Panasonic Group are denominated; the possibility of the Panasonic Group incurring additional costs of raising funds, because of changes in the fund raising environment; the ability of the Panasonic Group to respond to rapid technological changes and changing consumer preferences with timely and cost-effective introductions of new products in markets that are highly competitive in terms of both price and technology; the possibility of not achieving expected results on the alliances or mergers and acquisitions including the business reorganization after the acquisition of all shares of Panasonic Electric Works Co., Ltd. and SANYO Electric Co., Ltd.; the ability of the Panasonic Group to achieve its business objectives through joint ventures and other collaborative agreements with other companies; the ability of the Panasonic Group to maintain competitive strength in many product and geographical areas; the possibility of incurring expenses resulting from any defects in products or services of the Panasonic Group; the possibility that the Panasonic Group may face intellectual property infringement claims by third parties; current and potential, direct and indirect restrictions imposed by other countries over trade, manufacturing, labor and operations; fluctuations in market prices of securities and other assets in which the Panasonic Group has holdings or changes in valuation of long-lived assets, including property, plant and equipment and goodwill, deferred tax assets and uncertain tax positions; future changes or revisions to accounting policies or accounting rules; natural disasters including earthquakes, prevalence of infectious diseases throughout the world and other events that may negatively impact business activities of the Panasonic Group; as well as direct or indirect adverse effects of the Great East Japan Earthquake on the Panasonic Group in terms of, among others, component procurement, manufacturing, distribution, economic conditions in Japan including consumer spending and sales activities overseas. The factors listed above are not all-inclusive and further information is contained in Panasonic's latest annual reports, Form 20-F, and any other reports and documents which are on file with the U.S. Securities and Exchange Commission.
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