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PCRFY

Panasonic

$11.13

-0.015 (-0.13%)

07:41
03/21/17
03/21
07:41
03/21/17
07:41

Panasonic acquires additional 20% of shares in Ficosa

Panasonic announced that it will acquire an additional 20% of shares in Ficosa International, S.A., which is a global tier 1 full service supplier of automotive parts and systems. Panasonic currently has a 49% stake in the issued shares of Ficosa, and this acquisition of additional shares will make Ficosa a consolidated subsidiary of Panasonic. In order to complete this transaction, other general preconditions and conditions need to be met, including obtaining approval from European and other relevant authorities. Panasonic is aiming to reach sales of two trillion yen in its automotive business in fiscal year ending March 31, 2019, and is proceeding with initiatives targeting growth in the areas of 'Comfort', 'Safety' and 'Environment'. This includes concluding a capital and business alliance with Ficosa in June 2015, and starting the business partnership between the two companies. Since then, Panasonic and Ficosa have combined their respective technologies to jointly develop products such as electronic mirror systems, and subsequently secure orders for these new products. The companies are also working together to develop products such as Next-generation cockpit systems and Advanced driver assistance system, which will facilitate business expansion in fields where future growth is anticipated. Panasonic will acquire an additional 20% of Ficosa's issued shares by receiving of a portion of Ficosa's shares held by its shareholder Ficosa Inversion S.L.. Combined with the existing number of Ficosa's shares Panasonic holds, this additional acquisition will give Panasonic a 69% stake in the issued shares of Ficosa, subsequently making Ficosa a Panasonic's consolidated subsidiary. This transaction is not expected to have any material effect on the forecast consolidated financial results of Panasonic for fiscal year ending March 31, 2017.

PCRFY Panasonic
$11.13

-0.015 (-0.13%)

03/08/17
MSCO
03/08/17
NO CHANGE
Target $305
MSCO
Overweight
Morgan Stanley questions if Tesla might seek partner help to meet capital needs
Morgan Stanley Adam Jonas noted that Tesla (TSLA) has historically brought in strategic partners at important points in its history to participate in its capital formation - pointing to its prior deals with Daimler (DDAIF), Panasonic (PCRFY) and Toyota (TM) - and he wonders if Tesla, which is targeting higher spending for its launch of the Model 3, may now see another opportunity to explore getting help from new or existing partners to meet its capital needs. However, Jonas noted that he is "not aware of any possible initiatives in this respect." The analyst, who ascribes a valuation of $233 per share to the core automotive business, "zero valuation" for Energy generation and storage and sees upside from the value he ascribes to its Tesla Mobility segment, reiterates an Overweight rating and $305 price target on Tesla shares.
10/31/16
JPMS
10/31/16
NO CHANGE
JPMS
Overweight
TiVo deal renewal shows IP portfolio strong, says JPMorgan
JPMorgan analyst Sterling Auty believes the worldwide multi-year renewal license with Panasonic (PCRFY) is another sign that TiVo's intellectual property portfolio remains strong. TiVo is positioned to land the last remaining pay TV operator out of contract in the U.S., Comcast (CMCSA), Auty tells investors in a research note. He keeps an Overweighrt rating on TiVo.

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OKE

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AZN

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NTNX

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COST

Costco

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MNK

Mallinckrodt

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FRGI

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YUM

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LBIO

Lion Biotechnologies

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CPE

Callon Petroleum

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HGV

Hilton Grand Vacations

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0.24 (0.67%)

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SYPR

Sypris Solutions

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