Panasonic sold its entire stake in Tesla last fiscal year By Reuters

<iframe src=”//″ width=”250″ height=”250″ scrolling=”no” border=”0″ marginwidth=”0″ style=”border:none;” frameborder=”0″></iframe>

© Reuters. FILE PHOTO: A logo of Panasonic Corp is pictured at the Combined Exhibition of Advanced Technologies at the Makuhari Messe in Chiba, Japan, October 2, 2017. REUTERS/Toru Hanai/File Photo

TOKYO (Reuters) -Panasonic Corp sold all of its stake in Tesla (NASDAQ:) Inc in the year ended March, filings from the Japanese firm showed on Friday.

Panasonic (OTC:) bought 1.4 million Tesla shares at $21.15 each in 2010 for about $30 million. The stock is now worth $679.82 apiece.

The windfall likely accounts for much of the 429.9 billion yen in “proceeds from sale and redemption of investments” in Panasonic’s cash flow statement for the fiscal year that ended in March, the business daily reported earlier. In the prior year, that figure was 49.13 billion yen.

Panasonic, a maker of bicycles to hair dryers, supplies batteries for Tesla’s electric cars, and that partnership will not be affected by the sale, the Nikkei said.

Panasonic said earlier this year it would buy the shares of U.S. supply-chain software company Blue Yonder that it does not already own, in a $7.1 billion deal.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


+ 58 = 67