Panasonic NZ reveals revenue increases by $22 million

Panasonic NZ has released its latest financial report, showing the company's revenue has increased by more than $22 million in the last year. 

The report reveals that its revenue from customer contracts is up by 15%.  $169,927,000 for the year ending March 31, 2022, $147,732,000 for the period ending in 2021.  

In addition, the gross profit in 2022 has drastically increased by 45%,  $2,249,000 compared to 2021 total of $3,276,000.

The company's assets currently sit at $55,140,000, growing from last year's total of $54,745,000.   

Assets are reviewed for impairment whenever there is an objective indication of impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount.  

Trade receivables and other assets have advanced by 14%, $14,996,000 in 2022 and $13,253,000 in 2021.  

Regarding Panasonic's operating activities, its customer receipts total has risen by almost 15% $170,330,000 compared to $148,312,000 in 2021. 

Income tax expenses for 2022 come to a total of $929,000, with last year's total $1,312,000. 

As at March 2022, there were 100 shares authorised, issued and fully paid with a par value of $1000,000 per share (2021: 100). All ordinary shares rank equally with one vote attached to each fully paid ordinary share.  

The company has no committed capital expenditure as of March 31 2022. 

Panasonic NZ has been a fully established sales company since 1998, offering consumer electronics and business solutions.

Panasonic NZ is part of Panasonic Corporation, known as the Matsushita Group, until October 2008. Matsushita first entered the New Zealand market in 1962, supplying refrigerator parts to Fisher & Paykel. In 1971, a sales agreement between Matsushita and Fisher & Paykel saw the introduction of National and Panasonic electronic products to the New Zealand market, with all products rebranded Panasonic in 1987. 

Panasonic NZ has 115 employees across Christchurch, Wellington and its headquarters in Auckland.  

PricewaterhouseCoopers conducted an independent audit of Panasonic's New Zealand Branch to gather the results for the latest report.

Atsushi Sugishima, currently planning director at Panasonic Asia Pacific, has been appointed as managing director. 

With this appointment, Sugishima will succeed Takehiko Ryu, who retired from his role on March 31, 2022.

As the new managing director for Panasonic Asia Pacific, Sugishima is responsible for driving Panasonic group's corporate value in the Asia Pacific region through implementing corporate governance and compliance programmes, providing professional services and counsel to the company's subsidiaries, and talent management.

Sugishima brings with him over 30 years of experience from working in Panasonic, along with deep industry knowledge and leadership expertise.

Sugishima has had exposure to a wide range of roles, including consumer electronics sales and marketing and regional marketing for Europe and Latin America. 

In his most recent position, he was responsible for implementing regional growth strategies and promoting intercompany business and external relations in the Asia Pacific region.

"I'm extremely honoured to have the opportunity to take on this new role and lead the team into the next phase. I am very excited about what we can achieve as we move forward together," says Panasonic, Planning Director, Sugishima.