Annual Report 2017

Annual Report 217 ESG 217 3 Moving toward growth

A Better Life, A Better WorldB2B4 B2B Aspire to more Homes & Living AV 1 Panasonic Annual Report 217

217 3 217 4 1 8% AP 31% 3% AP 31% 11% 5% 13% AIS 29% 73,437 AIS 3% 2,768 8% 73,437 CNS 13% ES 19% CNS 16% ES 2% 18% 1 AP ESCNS AIS 2 217 4 1 Panasonic Annual Report 217 2

1 1938 P62 ADAS EV 2182 1 IVI 2 ADAS ECU 3 EV 12V 3 2 1 19.3 17/319/3 +7% 2.6 21.9 3, 2, 1, 13,1 17/319/3 +24% 16, 2, 1 25, 17/3 18/3 19/3 17/3 18/3 19/3 22/3 3 3 3 Panasonic Annual Report 217

217 3 1 2 3 IVI 1 ECU AI 8 No.1 e AV ADAS 2 217 4 ADAS P57 No.1 217 1 217 P5-6, 26 SUV Velar Touch Pro Duo JAGUAR LAND ROVER LIMITED 1 In-Vehicle Infotainment 2 Advanced Driver Assistance System Panasonic Annualnua Report 217 2 4

1 EV 5 Panasonic Annual Report 217

217 3 EV 4 3 6 2 EV 1 17/3 18/3 19/3 2/3 21/3 22/3 23/3 24/3 25/3 26/3 3 218 35GWh 3 217 73217 217 EV 35GWh 2 213 225 21663 EV 1 21721mm7mm 2 Wh1GWh 1 Wh 1 3kWh35GWh 11 7,1 Panasonic Annual Report 217 6

2 216 6 212 1 IT 7 Panasonic Annual Report 217

217 3 M A 4 4 4 A Better Life, A Better World Panasonic Annual Report 217 8

2 M&A 1 1 A Better Life, A Better World B2C A Better Life B2BA Better World 2 9 Panasonic Annual Report 217

217 3 1 1 Panasonic Annual Report 217 1

AP ES CNS & AIS CFO 23 25 27 31 37 41 45 45 47 49 51 53 55 1 3 7 11 1 2 59 63 75 79 59 6 216 CSR 63 64 68 69 7 71 75 76 77 78 79 8 81 ESG 13 15 17 19 21 1 83 85 93 97 217 3 P7 P31 P45 P75 P59 P3 P15 P37 P79 Panasonic Annual Report 217 11

217 3 217 ESG 217 B2B IR IR IIRC 217 3 SRI Dow Jones Sustainability World Indices DJSI WorldFTSE4Good Index MSCI SRI IndexesMSCI Global SRI Indexes DJSI World 12FTSE4Good Index 17MSCI SRI Indexes 6ESGMSCI ESG Leaders IndexesMSCI Global Sustainability Indexes7CDP21682A- 214 JPX 4 217 7FTSE Blossom Japan IndexMSCI Japan ESG Select Leaders IndexMSCI Japan Empowering Women Index (WIN) IR http://www.panasonic.com/jp/corporate/ir.html CSR http://www.panasonic.com/jp/corporate/sustainability.html Panasonic Annual Report 217 12

216 6 217 1 218 4,5 2,5 217 8 13 217

217 3 1929 1946 http://www.panasonic.com/jp/corporate/ management/code-of-conduct/list.html Panasonic Annual Report 217 14

1 M A M&A 1929 1952 1931 1954 VHS M A 1974 1987 1918-1945 1946-1989 1929 M A 1918 1927 1933 1935 1953 1959 1971 1989 213OTC 15 Panasonic Annual Report 217

217 3 1918-217 HISTORY 22 24 21 5 EV 213 216 217 KKR Kohlberg Kravis Roberts & Co. L.P. 211 199-211 212 B2B A Better Life, A Better World 1996 1998 28 1g 212 214 217 4 Fujisawa SST Panasonic Annual Report 217 16

M A 4 5 Wonder LAB Osaka 7 22 1 2 B2B 4 8 1 P6 12 2 216 4 5 6 7 8 9 1 11 12 6 24 3 4 4 26 B2B 12 27 217 P25-26 1 4 P5-6 4 1 B2B P26 17 Panasonic Annual Report 217

217 3 216-217 TOPICS 2 1 AI P61 4 27 217 P26 4 27 B2B 7 18 3 27 B2B SUNX 217 1 2 3 4 5 6 7 4 1 B2B P41-44, 53-54 P61 6 29 31 1712 P63 7 4 69% P5 Panasonic Annual Report 217 18

ESG 3 3 217 3IFRS 216 3IFRS ESG 9 6 7.3 3.6 6, 4, % 1. 7.5 3 3.7 2, 2,768 5. 3.8% 2.5 8/3 9/3 1/3 11/3 12/3 13/3 14/3 15/3 16/3 16/3 17/3 IFRS 8/3 9/3 1/3 11/3 12/3 13/3 14/3 15/3 16/3 16/3 17/3 IFRS 5, 6, 4, 3, 2, 3,116 2,244 4, 2, 347 1, 2, 8/3 9/3 1/3 11/3 12/3 13/3 14/3 15/3 16/3 16/3 17/3 IFRS P83-84 4, 8/3 9/3 1/3 11/3 12/3 13/3 14/3 15/3 16/3 16/3 17/3 IFRS ESG CO2 6, 5, 4, 3, 2, 1, 13/3 14/3 15/3 16/3 5,269 1,311 3,958 17/3 8 6 4 2 13/3 14/3 15/3 16/3 99.% 363 17/3 1 75 5 25 CO2 CO2 CO2 CO2 5,269 P81 CO2 99% P81-82 19 Panasonic Annual Report 217

217 3 ROE 3, % 4. 2.% 1,494 % 12. 9.9% 3, 4. 12. 24. 6, 8. 36. 9, 8/3 9/3 1/3 11/3 12/3 13/3 14/3 15/3 16/3 16/3 17/3 IFRS 12. 48. 8/3 9/3 1/3 11/3 12/3 13/3 14/3 15/3 16/3 16/3 17/3 IFRS ROE ROE 9.9% 2, 4. % 6. 15, 1, 12,78 11,24 3. 2. 26.3% 45. 3. 5, 1. 1.6 15. 8/3 9/3 1/3 11/3 12/3 13/3 14/3 15/3 16/3 16/3 17/3 IFRS 8/3 9/3 1/3 11/3 12/3 13/3 14/3 15/3 16/3 16/3 17/3 IFRS 6 4 2 13/4 14/4 15/4 16/4 6.9% 464 7.5 5. 2.5 17/4 4 2 15 1 5 13/6 14/6 15/6 16/6 33.3% 35 3 25 2 4 15 1 8 5 17/6 6 P76 217 6 29 31 1712 P63 Panasonic Annual Report 217 2

Cross-Value Innovation & 21 Panasonic Annual Report 217

217 3 B2B Panasonic Annual Report 217 22

212 213 214 215 Cross-Value Innovation 215CV215 2 5,88 4 CV215 3,5 5 6, 218 1 1 M&A 1 % 5.% 5.5% 3.9% 2.2% 73,3 77,365 77,15 3,51 3,819 75,537 4,157 1,69 1,24 1,795 1,933 7,543 23 Panasonic Annual Report 217

217 3 216 217 218 218 217218 7 8, 3,35 1,6 4,5 2,5 8 P25-26 3.8% 73,437 2,768 1,494 4.3% 78, 3,35 1,6 4,5 2,5 1 216IFRS 2215 216 Panasonic Annual Report 217 24

216 1 8% M A 4% B2B B2B ITCB2B B2B SUNXB2B 215218 1 B2B 21618 216 M&A 217 P5-6 25 Panasonic Annual Report 217

217 3 2191GW 217 4 217 3 1,854 216 4 1 CO2 112 Panasonic Annual Report 217 26

P85-92 215216 3 1 216 2 217 1 2 219/3 216/3 217/3 215/3 218/3 214/3 213/3 3 IFRS 27 Panasonic Annual Report 217

217 3 216 216 7 3,43796 12 3,43683 215 2,76812 1,494 9ROE 9.91.2 ROE1 3 217 3 217 1 217 218 2 217 ADAS FAX PC Panasonic Annual Report 217 28

EV 1 216 M&A4, 1 71 P25-26 AV 216 217 4 217 217 7 8, 16 3 219 219 216 12 Panasonic Annual Report 217 29

217 3 AV 3,35 121 218 218 218 4,5 2,5 SDGs 217 6 25 P8 ESG 216 M A P75 P63 CSR Panasonic Annual Report 217 3

31 Panasonic Annual Report 217

217 3 A Better Life, A Better World 1 2 3 4 5 6 216 B2B A Better Life, A Better World P32 P33 P33 P34 P35 P36 1 216 216 216 BP Panasonic Annual Report 217 32

B2B CNS AVC CNS B2B 3 28 ADAS CNS & CNSB2B IT B2B 1 AVC B2B AVC CNS 2 Panasonic Annual Report 217 33

217 3 CNS 4 B2CB2B Panasonic Annual Report 217 34

5 A Better Life, A Better World 5 1 31 1 A Better Life, A Better World A Better World Better A Better Life A Better Life 35 Panasonic Annual Report 217

217 3 A Better Life A Better Life A Better World B2B A Better Life AV AI R&D 6 1 1 1 A Better Life, A Better World Panasonic Annual Report 217 36

CFO 218 CFO CFO 216217 3 218 4,5 2,5 CFO 37 Panasonic Annual Report 217

217 3 CFO ROE % 2 8.6 1.6 11.1 9.9 216 2 216 4 ROE 216 6 IFRS % 4 3 2 47.2 13/3 14/3 15/3 16/3 17/3 IFRS 23.4 29.7 3.6 26.3 3 26.3 216 ROE 9.9% 1 26.3% 215 11& BBB+A216 1 Baa1A3 13/3 14/3 15/3 16/3 17/3 IFRS 217 7 31 A 3 a-1 A A3 A-2 218 4,5 2,5 4 Panasonic Annual Report 217 38

CFO 3 215218 4 1 1 216 4, 8 216 1 3 216 94, Cash Conversion Cycle CCC 5 46 4 38 36 3 31 3 2 13/3 14/3 15/3 16/3 17/3 IFRS 3 39 Panasonic Annual Report 217

217 3 216217 3 IFRS IFRS IFRS IFRS 4218 ROE1% FCF 1,5 FCF 3 4% 216 125 FCF IFRS 8, 4 38.9 4 6, 5,941 35.1 3 35 4, 3,552 3,535 25 25 2, 2 3 2,241 18 1,93 1,256 13 1 25. 25 347 23.2 2, 2 13/3 14/3 15/3 16/3 17/3 13/3 14/3 15/3 16/3 17/3 IFRS IFRS 3 3 Panasonic Annual Report 217 4

217 4 B2B 25 25? AV TV TV DVD CPU BP 41 Panasonic Annual Report 217

217 3 25??? 198 1992 1994 1997 23 25 27 COO 28 215 217 4 217 6 Panasonic Annual Report 217 42

Connected CNS CNS? RFID IT B2B AV IoTAI Panasonic Annual Report 217 43

217 3 CNS? CNS?? M&A CNS B2B Panasonic Annual Report 217 44

216 73,437 31% 19% 8% 29% 13% 216 2,768 31% 2% 3% 3% 16% 25,34 15,473 1,512 24,166 6,744 81,929 8,492 73,437 989 642 54 93 8 3,145 377 2,768 1 216 217 216P87 2 217P48 3 217 4 1 Panasonic Annual Rep Report 217 45

217 3 217P48 B2B IoT B2B B2C B2B B2B B2B 217 4 1B2B B2B Panasonic Annual Report 217 46

217 4 1 CO2 DVD FAX Panasonic Avionics Corporation FPD AV ITS 47 Panasonic Annual Report 217

217 3 IH Hussmann Corporation FA LSI IPS 7 4 216 AVC B2C 217 Panasonic Annual Report 217 48

AP B2B IoT Panasonic IR Day 217 PDF 216 P87 B2B 216 2 5,39611 16 1,32 189% 215 IoT AP 3 217 AVC AVC 218 2.84.5% 49 Panasonic Annual Report 217

217 3 B2B 3, 26,972 27,5 2, 1, 1,2 1,12 3 997 9 25 6 2 3 % 217/3 27.5% 17/3 18/3 17/3 18/3 15 91/3 96/3 1/3 6/3 11/3 16/3 3 3 3 217 217 2 7,512% 1,12112 2 1 B2B CO2IoT IoT AP AP 216-218 AVC Panasonic Annual Report 217 5

ES B2C Panasonic IR Day 217 PDF 216 P88 216 1 5,45797 625 82 216 22 ASEAN 2182.1 5 B2C B2C ES218 2.15 51 Panasonic Annual Report 217

217 3 GDP 18, 8 15,473 16,26 72 642 13,5 6 9, 4,5 4 2 17/3 18/3 17/3 18/3 3 3 B2C 217 6.211.6% 215 22 CAGR4.% 217 4,62 m 11. 2 217 8.111.5 GDP 217 22 CAGR ASEAN 5.2 1.9% 5.3% B2C 2171 6,2615 72115 LED IAQ 217 B2C B2B2B/C B2C ES ES Panasonic Annual Report 217 52

J CNS B2B Panasonic IR Day 217 PDF 216 P88 216 1 4789 29643 B2B & CNS AVC IoT PC CNS B2B 53 Panasonic Annual Report 217

217 3 - - e 4.AI/IoT B2B 12, 9, 6, 3, 1,512 11,3 8 6 4 2 54 17/3 18/3 17/3 18/3 3 3 1 PC ICR/W 69 No.1 No.11 1 217218 217 1 1,3 15 69137 218 1 1,8688 221 216 217 218 221 PA N S 1 C Panasonic Annual Report 217 54

&AIS Panasonic IR Day 217 & PDF 216 P89 216 2 5,612 95 1,93 218 216 215 ADAS Advanced Driver Assistance System AIS 217 217 IVI eadas4 3 55 Panasonic Annual Report 217

217 3 4. IoT 3, 1,2 24,166 26,6 9 2, 6 93 93 1, 3 17/3 18/3 17/3 18/3 3 3 217 3,9 26,6 24,166 1,6 93 93 13/3 57% 62% 66% 7% 76% 79% 14/3 15/3 16/3 17/3 18/3 19/3 3 2172 6,6 11 93 In-Vehicle Infotainment AIS IVI eadas 216/3 218/3 216/3 218/3 216/3 218/3 4 3 Panasonic Annual Report 217 56

2182 eadas EV CO2 7 218 2 IVI e e 217 217 IVI 218 6,3 ADAS 217 4 217 218 6,2 3 19/3 17/3 18/3 217/3 219/3 7% 3 217 19.3 21.9 xev HEV PHEV BEV 126% Panasonic Annual Report 217 57

217 3 3 EV 217 217 3 5 18 EV 2 2182 9 ADAS 218 2 2187,5 EV 16/3 17/3 18/3 19/3 3 AVC M A 218 3 217/3 1.3 24% 219/3 2. 5,4 AV ADAS 6,3 3,7 6,2 4, 7,5 Panasonic Annual Report 217 58

R&D 216 4km 2km AV ADAS ADAS 1 217 4 HMI ADAS HMI Panasonic Annual Report 217 59

217 3 8, 6, 4, 2, 5.9 4,361 1/3 11/3 12/3 13/3 14/3 15/3 16/3 17/3 IFRS 8. 6. 4. 2. 3 215 1IoT 2 IoT 216 WEBIoT 1 WEB1 AI IoT UI UX 1 Panasonic Annual Report 217 6

AIS CTO 217 4 SAP IoT AI B2B CTO CTO AP CTO AP CNS CTO CNS ES CTO ES AIS Wonder LAB Osaka AI 217 2 AI 4 AI 61 Panasonic Annual Report 217

217 3 1 CO2 216 6 217 3 22 DNA DNA 1937 1954 AV 1959 ATP-3 Panasonic Annual Report 217 62

Governance 216 216 3 217 6 29 1. 1/3 1712 84 2. 3. CXO CXO CEO Chief Executive Officer 25 33.3% 35 2 2 2 2 2 3 25 15 2 3 3 3 4 2 1 5 17 17 17 18 14 14 14 14 13 4 8 15 1 5 8/6 9/6 1/6 11/6 12/6 13/6 14/6 15/6 16/6 17/6 6 63 Panasonic Annual Report 217

3 217 3 216 M&A 217 6 29 35 1 412 1 2 1 1 2 3 Panasonic Annual Report 217 64

215 2 41 215 12 216 217 2 1 2 3 216 65 Panasonic Annual Report 217

217 3 2 3 2% 12 217 3 14 3 4 4 1,481 61 59 4 878 61 59 4 38 295 216 6 24 19 12 CCM 1 114 176 128 19 114 18 119 12 13 118 93 94 72 62 62 67 67 67 62 67 4 28 26 31 19 3 31 2 29 21 42 28 21 21 22 22 22 21 22 Panasonic Annual Report 217 66

217 7 1 CFO CSR IR 216 4 CFO IR CFOCSO IRIR IR IR Panasonic Annual Report 217 67

217 3 CRO & 1 BCM BCM & / Plan Do Check Action 217 & CRO PBSS PBSS Panasonic Annual Report 217 68

OECD P14 215 9 1 Panasonic Annual Report 217 69

217 3 CSR CSRP14 CSR PDCA CSR NPO NGO CSR P A D C P A C D / P A C D P A C D P A C D P A C D CSR CSR Panasonic Annual Report 217 7

217 6 29 1972 4 24 12 27 6 21 6 211 4 212 1 212 6 213 6 CSO CHRO 1979 4 28 4 211 4 213 1 214 6 215 4 216 4 217 3 217 6 CSO CHRO 1968 4 1981 1 1986 2 199 6 1992 6 1993 8 1995 7 1996 6 2 6 23 5 25 5 27 3 COO 28 4 215 7 217 4 217 6 CEO 1979 4 21 6 24 6 28 4 211 4 211 6 212 6 217 6 1973 4 26 4 29 4 213 1 213 4 214 4 214 6 217 4 217 6 AVC CEO AVC CRO CCO CFO 1979 4 23 6 27 4 212 4 213 4 213 1 214 4 214 6 215 4 217 6 CRO CCO 1984 4 212 1 217 4 217 6 CFO 71 Panasonic Annual Report 217

217 3 25 6 28 6 1979 4 28 6 212 6 214 6 215 6 211 4 215 6 1979 4 28 4 29 4 212 4 212 6 213 4 215 4 215 6 216 6 AVC AVC AVC 26 9 28 8 213 6 27 7 211 7 214 4 214 6 215 7 23 4 COO 27 4 CEO 216 6 1983 7 1994 6 1998 7 27 7 213 7 214 6 1986 4 1995 4 216 6 TMI Panasonic Annual Report 217 72

217 6 29 CEO CTO CMO CQO CPO CIO FF CSO CHRO Laurent Abadie CIS CRO CCO CS CXO CXO CXO 217 6 29 CEO CTO CMO CQO CPO CIO CRO CCO CBCO CSO CFO CHRO 73 Panasonic Annual Report 217

217 3 MICE MICE CBCO Thomas Gebhardt Manish Sharma CFO BPR Panasonic Annual Report 217 74

Social M&A 6 4 2 M&A WEB 6 M&A 75 Panasonic Annual Report 217

217 3 21Global Diversity Policy 4 HRDC 3 213 215 6 4 2 5.8 331 6. 354 13/4 14/4 6.5 44 15/4 423 6.9 464 7.5 6.7 5. 2.5 16/4 17/4 4 Panasonic Annual Report 217 76

P14 ILOOECD 211 6 215 4 LGBT 217 1 3 CSR CSR 77 Panasonic Annual Report 217

217 3 CSR 214 9 CIS 6 CSR PDCA CSR CSR CSR CSR CQO CSR CSR QCDS CSR OECD Panasonic Annual Report 217 78

Environment EV CO2 EV CO2 CO2 EV No.1 1865 32 212 EVS215 X1 5km P5-6 P26 EV 1865 CO2 CO2 1 12 1 8 6 4 2 9% 55%..2.4.6.8 1. CO2 kg-co2/kwh 15% 1931 1937 1964 1971 1973 1989 1994 24 21 79 Panasonic Annual Report 217

217 3 25 217 6 25 25 25 218 218 25 4 216 4 2 2 PDCA 217 CO2 218 WG Panasonic Annual Report 217 8

21CO2 CO2 216 11 2 1.5 CO2 CO2 CO2 CO2 CO2 25 CO2 CO2 CO2 CO2 CO2 CO2 B2B 214CO2 CO2 CO2 CO2 CO2 216CO22138 CO2 216 CO2 CO2 LED CO2 6, 5, 4, 3, 2, 1, 3,985 1,47 3,999 3,882 3,78 1,11 CO2 CO2 3,958 1,311 CO2 4 3 2 1 3 3 1 75 5 25 92 CO2 CO2214 3 23 CO2214 3CO2CO2 214 3 CO2 216JIS CO2216CO2 4,23 292 1 248 93 232 93 17/3 16/3 15/3 14/3 13/3 17/3 16/3 15/3 14/3 Panasonic Annual Report 217 81

217 3 3 216 218 216 99. 21899 218 218 WRIAqueduct WWFWater Risk Filter 8 99.3 98.7 98.8 99.2 99. 1 m 3 1 1 95 94 93 96 1 6 4 2 459 428 39 356 363 75 5 25 75 5 25 49 6 53 45 43 78 32 74 29 67 27 75 5 25 13/3 14/3 15/3 16/3 17/3 3 1/3 11/3 12/3 13/3 14/3 15/3 16/3 17/3 3 21 3 1 2 21 3 Panasonic Annual Report 217 82

1 3 3 217 3IFRS 216 3IFRS 28/3 29/3 21/3 211/3 212/3 213/3 9,68,928 519,481 434,993 281,877 449,348 282,12 554,538 44,687 7,765,57 72,873 382,634 378,961 494,368 325,835 517,913 352,83 7,417,98 19,453 29,315 13,465 385,489 251,839 476,93 198,674 8,692,672 35,254 178,87 74,17 43,778 284,244 527,798 266,25 7,846,216 43,725 812,844 772,172 333,695 295,88 52,217 339,893 7,33,45 16,936 398,386 754,25 31,866 277,582 52,223 355,156 388,66 1,214,816 7,443,614 3,742,329 4,256,949 745,665 973,867 6,43,316 2,783,98 3,212,581 1,327,992 1,19,912 8,358,57 2,792,488 3,679,773 1,595,269 974,826 7,822,87 2,558,992 2,946,335 1,575,615 574,411 6,61,55 1,929,786 1,977,566 1,143,395 496,283 5,397,812 1,264,32 1,34,273 1 1 1 1 132.9 132.9 35. 1,781.11 182.25 182.25 3. 1,344.5 49.97 1. 1,348.63 35.75 1. 1,236.5 333.96 1. 834.79 326.28 546.81 ROE 5.7 4.8 7.4 3.1 1.2 2. 5.2 5.3 26.3.9 4.9 11.8 4.9 1.1 2.1 11.6 43.5 2.6.4 3.7 1.4 1. 2.6 15.9 33.4 3.5 2.1 2.8.9 1.1 3. 2.4 32.7 28..6 1.4 34.4 9.8 1.1 3.2 23.9 29.2 2.2 5.5 47.2 1.3 1.2 3.8 21.2 23.4 1 1 1 114 162 11 143 93 131 86 113 79 19 83 17 13.3 1. 216 3 2. 3. 4. 5. 1 6. 81 29 3 7. 29 12 29 12 8. 21 3214 31 9. 213 3 212 3 1. 11. 12. ROE 1 1 83 Panasonic Annual Report 217

217 3 IFRS 214/3 215/3 216/3 216/3 217/3 7,736,541 35,114 26,225 12,442 217,33 278,792 478,817 594,78 7,715,37 381,913 182,456 179,485 226,68 242,149 457,25 353,455 7,553,717 415,79 217,48 193,256 248,794 235,33 449,828 124,46 7,626,36 23,299 227,529 165,212 252,95 238,214 438,851 125,551 7,343,77 276,784 275,66 149,36 311,641 224,45 436,13 34,746 642,112 592,467 5,212,994 1,548,152 1,586,438 972,916 1,28,48 5,956,947 1,823,293 1,992,552 725,919 1,14,264 5,596,982 1,75,56 1,854,314 724,841 1,12,666 5,488,24 1,444,442 1,647,233 1,124,4 1,27,787 5,982,961 1,571,889 1,759,935 1 1 52.1 13. 669.74 77.65 77.64 18. 788.87 83.4 83.39 25. 734.62 1 1 71.3 71.29 25. 622.34 64.33 64.31 25. 673.93 3.9 5. 5.5 3. 3.8 2.7 2.4 2.9 3. 3.7 8.6 1.6 11. ROE 11.1 9.9 1.6 2.3 2.6 2.2 2. 1.5 1.4 1.3 1.3 1.3 3.8 3.3 3.3 3.8 3.8 12.3 16.3 13. 13.2 18.8 29.7 3.6 3.5 26.3 26.3 25. 23.2 3. 35.1 38.9 1 134 16.4 11 139 17.7 12 133 18.9 1 1 1 12 133 18.9 18 119 16.1 IFRS 1. IFRS 2. 3. 4. 1 5. 6. ROE 1 1 Panasonic Annual Report 217 84

216217 3 216 218 216 4 Panasonic 12 7 6,2637 3,437 2 217 3 B2B 216 412 217 3 SUNX FA ROE 215 216 76,263 2,33 28 2,275 1,652 11.1% 73,437 2,768 17 2,751 1,494 9.9% 96 12 12 121 9 2,826 465 11 476 158 1.2 12 133 18.9 1US 1 1 18 119 16.1 217 3IFRSIFRS Panasonic Annual Report 217 85

217 3 3 3 3 3 9 6 7.6 7.3 3, 2, 2,33 3. 2,768 3.8 4.5 3. 3, 2, 2,275 2,751 2, 1, 1,652 1,494 3 1, 1.5 1, 16/3 17/3 16/3 17/3 16/3 17/3 16/3 17/3 3 7,4 1 3 6,591 3 9,2596 3 6,846 5 1 2,7222 126,77 1,914752 2,33 2,768 3. 3.8 133 1 8,479 3 36,591 216 99 99 236218 264 235 2,2752,751 36,846 94 15 12,722 6,77 12 87 112 97 18,47 73,437 91 96 13 12 3631,27 5 3,6775 1,572 1 8,4541 8,429 84 1,6521,494 1 71 3 64 33 Panasonic Annual Report 217 86

2 2 3,245 4K 1,43 4K 447 AP 216 8% 29% 19% & 31% AVC 13% AVC & 23,245 15,457 1,47 25,612 6,566 81,287 7,85 73,437 1,43 625 296 1,93 8 3,137 369 2,768 16/3 17/3 3 3, 2, 1, 16/3 17/3 3 1,5 75 5. 2.5 22,788 23,245 596 1,43 2.6 4.5 216 4 1 216215 73,437 Panasonic Annual Report 217 87

217 3 ES AVCAVC 3 2, 3 1,2 6 3 15, 3 9 9 1, 15,927 15,457 8 4 4.8 763 4. 625 4 2 1, 5, 11,727 1,47 69 6 5.9 3 296 2.8 6 3 16/3 17/3 16/3 17/3 16/3 17/3 16/3 17/3 3 1 5,457 LED 625 138 11 1 47 PBX( ) IT 296 394 Panasonic Annual Report 217 88

1 6,566 8 61 AIS 5 2 5,612 1,93 591 6,471 6,566 8 141 16/3 17/3 3 1, 5, 16/3 17/3 3 3 2 1 3 2 1 27,73 25,612 52 1,93 16/3 17/3 3 3, 2, 1, 16/3 17/3 3 1,2 8 4 6 4 2 4.3 1.9 1.2 2.2 Panasonic Annual Report 217 89

217 3 216 1 4 6 1,551 2 7 9 1,91 3 1 12 92 4 1 3 1,78 4 3 4,622 99% 722 653 65 591 2,616 186% AP 1 974 925 1,111 871 3,881 96% 1,198 1,292 1,372 1,87 4,949 11% AV 1,76 1,8 1,436 894 4,414 91% 67 745 854 811 3,79 96% ES 748 824 797 913 82 985 88 95 3,246 3,671 89% 1% 379 356 385 46 1,525 96% 459 48 464 521 1,852 93% AVC 2 594 271 566 267 639 253 671 224 2,47 1,16 89% 79% 1,61 1,89 1,145 1,394 4,689 91% 1,613 1,598 1,679 1,826 6,716 97% AIS 3 1,76 2,188 1,188 2,194 1,387 2,15 1,285 2,176 4,936 8,78 11% 91% 359 384 364 391 1,498 97% 1 Hussmann Corporation AV 2 AVC IT Panasonic Avionics Corporation/ 3 Panasonic Annual Report 217 9

1 1271 2,78 7,248 1 1,24 2,52923 3,116 2,382 6 2,244 3,854 4,21 3471,63 1,127 12,78 7,248 11,24 16/3 17/3 3 216 15, 1, 5, 15, 1, 5, 16/3 17/3 3 3,116 16/3 17/3 3 1,5 1, 5 5 347 1,256 114 AIS 1,95 AP 49 ES 341 AVC 221 Panasonic Annual Report 217 91

217 3 4,9495 9,83 3,822 4 2,23 1,2745,719 26.3 1 7,599 3 3 6, 4, 54,88 59,83 2, 14,444 15,719 1, 2, 16/3 17/3 16/3 17/3 Panasonic Annual Report 217 92

3 1,27,787 847,3 143,519 86,39 137,21 3,24,819 155,987 161,986 1,323,282 665,132 47,72 64,35 2,778,142 5,982,961 217 1,12,666 835,456 165,496 769,65 11,494 2,893,762 16,667 149,422 1,288,234 474,149 454,24 67,586 2,594,262 5,488,24 216 1,279,943 1,6,2 165,648 776,965 121,17 3,349,665 138,266 137,552 1,361,738 469,378 274,71 89,48 2,471,124 5,82,789 215 4 1 177,38 955,965 329,625 66,785 317,261 865,389 2,712,63 946,966 467,749 17,679 62,531 16,38 1,51,963 4,223,26 258,74 636,95 1,51,445 164,632 21,569 1,571,889 188,46 1,759,935 5,982,961 217 21,728 894,927 276,81 7,779 386,26 832,836 2,483,34 73,113 58,712 12,958 44,52 16,166 1,357,451 3,84,791 258,74 645,949 878,28 17,922 23,533 1,444,442 22,791 1,647,233 5,488,24 216 26,435 943,836 273,663 6,99 396,636 898,953 2,834,513 711,43 436,281 11,539 52,476 15,491 1,226,83 4,61,343 258,74 653,11 833,991 37,234 247,548 1,535,518 223,928 1,759,446 5,82,789 215 4 1............................................................................................................... Panasonic Annual Report 217 93

3 1 1 1 7,343,77 5,157,163 2,186,544 1,842,928 8,378 75,21 276,784 21,832 23,55 275,66 12,624 172,442 149,36 23,82 64.33 64.31 217 7,626,36 5,367,667 2,258,639 1,845,393 8,445 191,392 23,299 23,618 26,388 227,529 36,296 191,233 165,212 26,21 71.3 71.29 216-172,442 73,513 4,26 77,773 61,34 964 6,34 17,433 189,875 174,892 14,983 217 191,233 79,25 79,25 164,668 2,588 7,69 16,187 239,392 48,159 54,617 6,458 216.................................................................................... 217 3 94 Panasonic Annual Report 217

215 4 1 216 3 31 217 3 31 1,759,446 191,233 239,392 48,159 65,933 115 14,237 12,243 1,647,233 172,442 17,433 189,875 75,673 16 13,746 14,8 34 1,759,935 223,928 26,21 19,563 6,458 19,611 7,984 22,791 23,82 8,99 14,983 17,648 12,8 188,46 1,535,518 165,212 219,829 54,617 46,322 115 14,237 4,259 1,444,442 149,36 25,532 174,892 58,25 16 13,746 2,72 34 1,571,889 247,548 115 17,13 23,533 16 2,7 21,569 37,234 219,829 219,829 74,673 17,922 25,532 25,532 72,87 9,372 164,632 833,991 165,212 165,212 74,673 46,322 878,28 149,36 149,36 72,87 58,25 9,32 1,51,445 653,11 2,893 4,259 645,949 6,324 2,72 636,95 258,74 258,74 258,74 Panasonic Annual Report 217 95

217 216 3 172,442 27,767 45,868 12,624 7,983 36,612 64,44 116,17 495,43 16,956 1,857 23,816 14,63 385,41 278,594 51,155 63,22 29,119 31,163 11,622 142,844 319 42,156 6,261 4,549 5,9 58,25 17,648 16 9 2,946 17,44 294,598 1,731 258,121 1,12,666 1,27,787 191,233 278,391 47,638 36,296 125,36 29,644 18,9 92,845 537,25 2,49 1,581 26,261 113,579 419,355 245,269 27,56 45,95 58,369 53,95 1,997 31,356 2,778 293,84 3,391 157 251,729 46,322 19,611 115 8 45 5,61 39,565 83,263 267,277 1,279,943 1,12,666............................................................................................................... 217 3 Panasonic Annual Report 217 96

217 3 31 3 3 6752 1935 121918 3 571-85116 258,74 496 91 257,533 2,453,53,497 12,648,723 486,489 6752 1 54-86395 33 12-782-31 ADR OTC 1ADR 1 PCRFY JPMorgan Service Center P.O. Box 6454 St. Paul, MN 55164-54, U.S.A. Tel: 1-8-99-1135 1-651-453-2128 28/3 2,453,53 234,532 29/3 21/3 211/3 212/3 213/3 214/3 215/3 216/3 2,453,53 2,453,53 2,453,53 2,453,53 2,453,53 2,453,53 2,453,53 2,453,53 277,71 316,182 364,618 557,12 577,756 499,728 469,295 514,129 217/3 2,453,53 486,489 31.6 34.1 3.8 3.9 34.2 28.3 27.2 3.1 3.6 3.8 28.7 22.5 25.3 22.7 21.9 25.3 33.2 32.9 31.2 32.6 6.7 7.1 7.1 7.1 8.4 8.3 7.4 7.1 6.9 7. 18.6 2.7 21.2 23.7 29.7 32.3 26.4 24.1 25.9 24.7 14.4 15.6 15.6 15.6 5.8 5.8 5.8 5.8 5.4 4.9 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. STATE STREET BANK AND TRUST COMPANY 5 MOXLEY AND CO LLC STATE STREET BANK WEST CLIENT TREATY 55234 THE BANK OF NEW YORK MELLON SA/NV 1 153,132 124,761 69,56 58,199 43,695 42,194 37,465 34,794 32,792 32,573 % 6.24 5.8 2.81 2.37 1.78 1.72 1.52 1.41 1.33 1.32 1 2 12,648 97 Panasonic Annual Report 217

217 3 3 3, 2, 1, 1,5 28/3 29/3 21/3 211/3 212/3 213/3 214/3 215/3 216/3 217/3 1, 5 28/3 29/3 21/3 211/3 212/3 213/3 214/3 215/3 216/3 217/3 28/3 2,585 1,912 2,16 29/3 21/3 211/3 212/3 213/3 214/3 215/3 216/3 2,515 1, 1,69 1,585 1,62 1,43 1,48 826 1,58 1,7 582 761 781 376 654 1,48 594 1,173 1,614. 1,3. 1,577. 1,853.5 799. 1,33.5 217/3 1,39.5 831.4 1,258. 8 11 12 13 14 15 16 17 4 1 7 5 7 1 5 7 1 1 2.5 1.81.387.568.934.19.3.47 1.593 1, 1,5 2,2 8 1, 2, 7 1,3 3 219 3 2 218 3 2 22 3 19 222 3 18 225 3 19 221 9 17 223 9 2 226 9 18 219 6 2 212 1 1 IR IR 571-85116 Tel: 6-698-1121 Panasonic Europe Ltd. Panasonic House, Willoughby Road, Bracknell, Berkshire, RG12 8FP, U.K. Tel: 44-1344-853135 IR IR 15-831 15 1 Tel: 3-3437-1121 Panasonic Annual Report 217 98

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