Panasonic Appliances Vietnam Co., Ltd. (Vietnam)

The subject is one of the facilities in Vietnam of Panasonic Group. Founded in 2003, it is running two production factories in Ha Noi City and Hung Yen Province, manufacturing and assembling refrigerators, washing machines, and other civil electronic appliances. The factory in Ha Noi City has a scale of 665,140 products/year with a total registered investment capital of USD 26,867,000. The second project was invested in 2012 in Hung Yen Province, having a total registered investment capital of USD 32 million. Besides the domestic market, the subject's products are being exported overseas via the system of Panasonic companies in Japan, Malaysia, Singapore, etc.  The subject presented high growth in net sales since FYE 31 Mar 2020. The net sales reached a peak at VND 6,170 billion in FYE 31 Mar 2023. However, net income dropped by 86.30% to VND 31.8 billion in FYE 31 Mar 2023. Shared by a female staff in the purchasing department, materials prices were still stable in the last fiscal year. However, the company invested much in buying more modern machinery and equipment, in order to improve production capacity. As a result, fixed asset depreciation costs increased sharply and lifted the Costs of goods sold, leading to a cut of the profit in FYE 31 Mar 2023.