Japanese technology giant Panasonic announces a new chief as its profits barely hold up
Kenneth William Sain, a former Boeing executive, will replace Yasuyuki Higuchi as Panasonic's president and chief executive in April 2026, the company said Wednesday.
Sain joined Panasonic in 2019 as CEO of Panasonic Avionics.
'Ken is an exceptional leader with extensive global experience and a deep understanding of business and technology,' Higuchi said in a statement.
Panasonic Holdings Corp.'s April-June profit totaled 71.46 billion yen ($483 million), up from 70.6 billion yen. Its quarterly sales declined 10.6 per cent from last year to 1.9 trillion yen ($12.8 billion).
The Osaka-based maker of home appliances, solar panels and batteries for Tesla vehicles kept its full year profit forecast unchanged at 310 billion yen ($2.1 billion), down 15 per cent from the previous year.
Panasonic said the impact from U.S. President Donald Trump's tariffs was not yet fully factored in. The company said it will try to minimize the effect on its operating profit with cost cuts and other measures.
Consumer electronics sales were strong in Japan, Panasonic said, while they were also healthy in China, supported by subsidies.
On the positive side, it said demand for AI servers and air-conditioners was expected to grow. But concerns remain about slowing demand for electric vehicles because of U.S. tariffs and the ending of tax credits.
Panasonic also said it's planning to get rolling later this year its new lithium-ion battery factory in Kansas, whose start has been delayed.
Panasonic said in May that it was slashing its global workforce by 10,000 people, half in Japan and half overseas, to become 'lean.' The job cuts amount to about four per cent of its workforce.
Yuri Kageyama, The Associated Press
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
2 hours ago
- Globe and Mail
Strategic Growth in the Global X-Ray Detectors Market (2025-2030)
"Originally a part of Varian Imaging, Varex Imaging Corporation has expanded to become a world leader in producing and selling medical imaging devices, catering to industries like cargo screening and border security." key players operating in the global X-ray detectors market are Varex Imaging (US), Canon (Japan), Thales Group (France), Analogic Corporation (US), Agfa-Gevaert Group (Belgium), Carestream Health (US) The global X-ray detectors market is on a trajectory of sustained growth, projected to expand from US$3.4 billion in 2025 to US$4.4 billion by 2030, advancing at a CAGR of 5.5%. As digital transformation accelerates across healthcare, defense, and industrial sectors, X-ray detector technologies have become a key enabler of high-stakes decision-making, operational efficiency, and national security. For C-level executives and senior decision-makers, this evolution represents more than a technological upgrade—it's a strategic opportunity for ROI, innovation, and competitive advantage. Download PDF Brochure: Healthcare, Defense, and Beyond: Why the X-Ray Detectors Market Is Booming X-ray detectors are no longer limited to diagnostic imaging in hospitals. They are transforming border security, aerospace inspections, homeland defense, and precision medicine, thanks to major advances in flat-panel technologies, backscatter X-rays, and photon-counting detectors. Here's why this market matters for enterprise leaders: Security and Defense Digitization: Airports, seaports, and critical checkpoints are integrating advanced X-ray imaging to combat emerging threats. High-resolution, real-time detection of concealed weapons, explosives, and contraband is now critical for national and global security. Medical Imaging Modernization: As healthcare systems digitize globally, the shift from analog to flat-panel digital radiography ensures higher throughput, faster diagnostics, and improved patient safety—delivering both clinical value and operational cost savings. Industrial Inspection & Automation: Rugged and handheld detectors are increasingly used for non-destructive testing (NDT) in aerospace, oil & gas, and manufacturing—ensuring safety, compliance, and uptime in mission-critical systems. Market Leaders & Strategic Differentiators Varex Imaging (US): Diversification and Deep Sector Expertise Varex Imaging exemplifies the market's transition from traditional radiology to multisector innovation. With strong capabilities across medical, industrial, and security imaging, Varex's inorganic growth strategy—driven by acquisitions and global expansion—makes it a versatile partner for OEMs and system integrators. Their investment in AI-enabled imaging and advanced detector materials positions them as a formidable player in custom and scalable detector design. Thales Group (France): Security and Medical Fusion Through its Trixell division, Thales provides state-of-the-art flat-panel detectors for OEMs across radiography, fluoroscopy, and cardiovascular applications. The company's legacy in defense and secure communications complements its healthcare imaging operations—making it uniquely positioned to lead in dual-use imaging systems for civilian and military applications. Canon Inc. (Japan): Ecosystem Strength in Healthcare Canon leverages its expansive global network and R&D capabilities across digital radiography, CT, and MRI systems. The firm's seamless integration of X-ray detectors within a broader portfolio of diagnostic tools enables healthcare institutions to modernize imaging infrastructure holistically—reducing downtime, radiation exposure, and diagnostic uncertainty. Request Sample Pages : Technology Spotlight: Flat-Panel Detectors Drive Value Flat-panel detectors (FPDs), particularly those using cesium iodide (CsI), dominate the technology landscape due to: Superior Image Resolution: Ideal for early detection of chronic conditions like cancer or cardiovascular disease. Reduced Radiation Dosage: Enhances patient safety and supports regulatory compliance. Faster Image Acquisition: Improves clinical workflow and diagnostic throughput. With hospitals and imaging centers under pressure to improve diagnostic accuracy while managing costs, FPDs represent a high-ROI investment with proven clinical and operational benefits. Geographic Growth Hotspots: Strategic Markets to Watch North America remains the most mature market, driven by advanced infrastructure, strong reimbursement systems, and early adoption of AI-enhanced imaging. Asia Pacific is rapidly expanding due to increased healthcare spending, government initiatives in rural diagnostics, and a rising middle class demanding high-quality imaging. Europe continues to innovate through public-private partnerships, particularly in preventive care and cancer diagnostics. Global players are expected to deepen regional partnerships and invest in localized production to navigate shifting trade regulations and accelerate time to market. Investment Outlook: ROI and Strategic Benefits For C-suite leaders, the X-ray detectors market offers: Long-term ROI: Upgrading to advanced detectors can result in 10–20% operational efficiency gains, reduced maintenance costs, and improved service turnaround times. Innovation Advantage: Early investment in photon-counting or AI-integrated detectors can differentiate offerings in competitive bids or tenders. Sustainability Impact: Digital detectors reduce chemical waste (vs. film-based systems), support greener operations, and align with ESG mandates. Future Outlook: AI, Photon Counting, and Space Applications Looking forward, the X-ray detector market is being reshaped by: Photon-Counting Detectors: Emerging as a disruptive force with unparalleled resolution and low-dose imaging for precision diagnostics. AI & Predictive Imaging: Integration with artificial intelligence enhances image interpretation, triage, and workflow automation—enabling faster, more accurate decisions. Space & Deep Tech Applications: X-ray systems are being explored for use in satellite inspections, asteroid mining, and extraterrestrial exploration, unlocking new industrial frontiers. Key Takeaways for Decision-Makers Strategic Priority Value Proposition Modernize Imaging Infrastructure Enhance speed, accuracy, and ROI Align with National Security Demands Adopt advanced X-ray tech for defense & border safety Leverage ESG & Sustainability Transition to greener, digital imaging systems Capitalize on Global Expansion Target high-growth regions and partner with OEMs Invest in R&D and Innovation Future-proof your portfolio through emerging tech Ready to Lead the Next Wave of Imaging Innovation? The X-ray detectors market presents an intersection of innovation, resilience, and growth. Enterprises that invest now in next-generation detector technologies will be better equipped to meet rising demand, navigate regulatory shifts, and deliver exceptional value to customers. For more information, Inquire Now!
Globe and Mail
3 hours ago
- Globe and Mail
Coupang (CPNG) Q2 Revenue Jumps 16%
Key Points Revenue grew 16% year-over-year (GAAP) to $8.5 billion, topping analyst revenue estimates (GAAP), driven by strong performance in Product Commerce. Diluted EPS (GAAP) was $0.02, below the $0.07 GAAP forecast, as costs and Developing Offerings losses weighed on earnings. Free cash flow (non-GAAP) dropped 49% year over year to $247 million, reflecting increased capital expenditures and investments. These 10 stocks could mint the next wave of millionaires › Coupang (NYSE:CPNG), the South Korean e-commerce and delivery technology company, reported financial results on August 5, 2025, for the second quarter. The company posted GAAP revenue of $8.5 billion, beating analyst forecasts of $8.4 billion. However, diluted earnings per share (GAAP) came in at $0.02, missing the $0.07 GAAP consensus estimate. Management highlighted continued strong growth in its core Product Commerce segment and significant increases in customer engagement, while cautioning about lower free cash flow (non-GAAP) for the trailing twelve months due to timing of capital expenditures and working capital fluctuations. On balance, the quarter featured robust top-line expansion and margin gains, but some disappointment on profitability and cash generation. Source: Analyst estimates for the quarter provided by FactSet. Business Overview and Strategic Focus Coupang (NYSE:CPNG) is well known for its fast and reliable e-commerce service, providing same- and next-day delivery for a wide range of goods. Its core business, called Product Commerce, covers the online marketplace with capabilities like Rocket Delivery, which handles groceries and general merchandise. The company also operates a newer Developing Offerings segment, including food delivery, operations in Taiwan, and activities in luxury fashion via its Farfetch acquisition. The company has focused in recent years on enhancing its customer experience, highlighted by quick delivery options and expanding product selection. It is also ramping up investments to grow its business outside Korea, with expansion into Taiwan and deeper involvement in the luxury segment. Key drivers for the business are customer satisfaction, strong marketplace partnerships with small and medium-sized merchants, and continued technology-driven operational efficiencies. Quarter Highlights: Financial and Operational Performance The second quarter showed strong revenue momentum, particularly in the Product Commerce segment. Product Commerce delivered $7.3 billion in net revenue, up 14% year over year on a reported basis, with gross profit in the segment rising 23% (GAAP). Customer growth played a big part, as Product Commerce Active Customers climbed 10% year-over-year to 23.9 million. Each active customer generated an average of $307 in sales, up 4% versus last year. The Product Commerce segment's gross profit margin reached 32.6%, a 2.27 percentage point improvement from a year earlier. Segment adjusted EBITDA (non-GAAP) rose 25% to $663 million, yielding a margin of 9.0% for this part of the business (non-GAAP). Performance was less favorable in the Developing Offerings unit, which includes Eats (food delivery), Taiwan operations, and the luxury platform acquired from Farfetch. Revenue for the Developing Offerings segment grew 33% year-over-year to $1.2 billion (GAAP), but gross profit declined 11% to $171 million. This drove adjusted EBITDA (non-GAAP) losses for the segment deeper, at a negative $235 million compared to a $200 million loss in Q2 2024. The trends highlight the heavy investments and early-stage losses tied to growing these newer businesses. Margin improvements at the company level were notable. Gross profit margin was 30.0%, an improvement of 0.79 percentage points from last year. Companywide adjusted EBITDA was $428 million with a 5.0% margin, counterbalanced by higher costs in expansion businesses and ongoing technology investment. Cash and capital management also featured prominently. Free cash flow (non-GAAP) fell 49% to $247 million, with the company attributing the drop to the timing of capital expenditures and working capital fluctuations. No stock buybacks occurred in the quarter. As of June 30, 2025, the cash and cash equivalents balance (GAAP) was $6.8 billion, compared to $5.9 billion at year-end 2024. Products, Services, and Initiatives At the heart of the business, the company's e-commerce platform is distinguished by its Rocket Delivery service, which offers rapid delivery for groceries and most consumer goods. The company also supplies food delivery services through Eats, and entered the luxury e-commerce market following its purchase of Farfetch in January 2024. In Taiwan, the selection for customers surged by about 500% compared to the prior year, partly due to direct supplier partnerships. Merchant relationships remain a major priority. More than three-quarters of merchants are small-to-medium enterprises (SMEs), who gain from the company's Fulfillment and Logistics by Coupang (FLC) service. FLC provides warehousing, packing, shipping, and returns processing for third-party sellers, and is reportedly growing at multiples of the overall business. This helps drive customers to a wider product range while supporting SME growth. The company reiterated its focus on operational excellence, investing in automation, robotics, and artificial intelligence (AI) systems to streamline processes and forecast demand better. These efforts were evidenced by advancements in automated picking and inventory management this quarter. No regulatory sanctions or fines were reported for the quarter. The business was impacted by a Korean Fair Trade Commission penalty recorded in Q2 2024, but there were no similar events this period. Investments in employee wellness and safety continued, but with no specific new metrics provided for the reporting period. Outlook and What to Watch Leaders reminded investors that their effective tax rate for the full year will be elevated, at 50–55%, due to early-stage overseas losses and some nondeductible expenses. The company expects the free cash flow and working capital trends to normalize by year-end, suggesting the current lower level of cash generation may be temporary rather than a permanent shift. Investors and followers of the company should continue monitoring the profitability and cash flow trends, especially in the Developing Offerings segment. While the business is investing heavily in Taiwan and luxury commerce, losses in the Developing Offerings segment (adjusted EBITDA, non-GAAP) widened to $235 million, despite top-line gains. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,026%* — a market-crushing outperformance compared to 180% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. See the stocks » *Stock Advisor returns as of August 4, 2025 JesterAI is a Foolish AI, based on a variety of Large Language Models (LLMs) and proprietary Motley Fool systems. All articles published by JesterAI are reviewed by our editorial team, and The Motley Fool takes ultimate responsibility for the content of this article. JesterAI cannot own stocks and so it has no positions in any stocks mentioned. The Motley Fool recommends Coupang. The Motley Fool has a disclosure policy.
Globe and Mail
5 hours ago
- Globe and Mail
Taiwan Semiconductor Stock Soars 18% YTD: Time to Hold or Book Profit?
Taiwan Semiconductor Manufacturing Company TSM, also known as TSMC, has made a remarkable run so far this year despite high market volatility amid ongoing macroeconomic uncertainties and geopolitical issues. The stock has delivered a solid 17.7% gain year to date (YTD) and outperformed the broader Zacks Computer and Technology sector, which rose 10.9%. Taiwan Semiconductor stock has also moved ahead of several chip peers, including ASML Holding ASML, ON Semiconductor ON and Marvell Technology MRVL. Shares of ASML Holding, ON Semiconductor and Marvell Technology have fallen 0.5%, 25.1% and 30.6%, respectively, YTD. YTD Price Return Performance This outperformance shows investors remain confident in Taiwan Semiconductor's long-term story, even during a volatile market shaped by trade conflicts and geopolitical risks. We believe this momentum is grounded in strong fundamentals, and TSM's long-term outlook justifies a hold position for now. AI Boom: A Multi-Year Growth Catalyst for TSM Taiwan Semiconductor continues to dominate the semiconductor foundry space. TSMC is known for its advanced production capabilities and has already moved into 3nm production, with 2nm coming soon. Its large scale allows it to handle rising AI chip demand better than most competitors. The ongoing artificial intelligence (AI) boom has placed TSMC at the center of a multi-year structural growth cycle. Taiwan Semiconductor has established itself as the preferred manufacturing partner for AI accelerators, including graphics processing units (GPUs) and custom silicon developed by major players like NVIDIA, Marvell Technology and Broadcom. In 2024, AI-related revenues tripled, making up a mid-teen percentage of Taiwan Semiconductor Manufacturing's total revenues, and the momentum is far from over. TSMC expects AI-related sales to double again in 2025, with an impressive 40% compound annual growth rate over the next five years. This positions TSM as the undisputed backbone of AI-driven technological advancements. To capitalize on the AI-driven growing demand for advanced chips, Taiwan Semiconductor is investing heavily in expanding production capabilities. The company is set to invest between $38 billion and $42 billion in capital expenditures in 2025, far outpacing its $29.8 billion investment in 2024. The bulk of this spending, around 70%, is focused on advanced manufacturing processes, ensuring TSM stays ahead of other chip manufacturing rivals. TSMC's Resilient Financial Performance Taiwan Semiconductor's latest earnings report highlights just how dominant the company remains. In the second quarter of 2025, TSM's revenues surged 44% year over year to $30.07 billion, while EPS jumped 61% to $2.47. This growth was powered by the booming demand for its advanced 3nm and 5nm nodes, which now account for 58% of total wafer sales. Gross margins improved 540 basis points to 58.6%, reflecting better cost efficiencies. Buoyed by strong demand for its 3nm and 5nm chips, Taiwan Semiconductor raised its revenue growth guidance for full-year 2025 to 30% from mid-20% projected earlier. For the third quarter, TSMC expects revenues in the range of $31.8-$33 billion, calling for a sequential increase of 6%-10%. The Zacks Consensus Estimate for third-quarter and full fiscal 2025 revenues is pegged at $32.38 billion and $118.11 billion, respectively. Favorable Valuation: A Reason to Hold TSM Stock Despite a robust rally, Taiwan Semiconductor stock still looks reasonably priced. It trades at a forward 12-month price-to-earnings (P/E) multiple of 22.27, which is lower than the sector average of 27.47. This discount adds to the appeal for long-term investors. Compared with other major semiconductor players, Taiwan Semiconductor has a higher P/E ratio than ON Semiconductor but has a lower multiple than ASML Holding and Marvell Technology. At present, ASML Holding, ON Semiconductor and Marvell Technology trade at P/E multiples of 24.33, 16.92 and 24.01, respectively. Near-Term Challenges Persist for TSMC Despite its strengths, Taiwan Semiconductor faces near-term headwinds. Higher energy prices in Taiwan, following a 25% electricity hike in 2024, pose a considerable challenge, especially as advanced nodes demand greater power. Softness in key markets like PCs and smartphones also dampens near-term prospects. These traditionally strong revenue drivers are projected to see only low single-digit growth in 2025, limiting Taiwan Semiconductor's growth despite rising AI demand. The company's global expansion strategy adds further strain. New fabs in the United States (Arizona), Japan and Germany are vital for geopolitical risk mitigation, but they come with higher costs. These facilities are expected to drag down gross margins by 2-3 percentage points annually over the next three to five years due to higher labor and energy costs, along with lower utilization rates in the early stages. Escalating geopolitical tensions, particularly U.S.-China relations, pose strategic risks. With significant revenue exposure to China, Taiwan Semiconductor is vulnerable to export restrictions, supply-chain disruptions or further regulatory pressure. These uncertainties could weigh on near-term performance. Conclusion: Hold TSM Stock for Now Taiwan Semiconductor remains a cornerstone of the semiconductor industry. Its unmatched capabilities in advanced chip manufacturing, strong exposure to AI demand and expanding capacity give it a solid long-term trajectory. However, short-term headwinds, from rising costs and global expansion pressures to geopolitical friction, call for a more cautious stance. Given its valuation and growth backdrop, holding the stock makes the most sense right now. Taiwan Semiconductor carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Picks Stock Most Likely to "At Least Double" Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren't winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%. See Our Top Stock to Double (Plus 4 Runners Up) >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ASML Holding N.V. (ASML): Free Stock Analysis Report Marvell Technology, Inc. (MRVL): Free Stock Analysis Report ON Semiconductor Corporation (ON): Free Stock Analysis Report
