High raw material prices having a “big” impact, Panasonic CEO says

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Reuters UK

TOKYO (Reuters) – Rising prices for raw materials, including nickel and copper, accelerated by Russia’s invasion of Ukraine were having a “big” impact on Panasonic Corp, with the Japanese industrial giant only able to pass on some of those increases to its customers, the CEO said. “We are able to pass on costs to some business clients depending on our contracts. Passing higher prices on to consumers is more difficult,” said Yuki Kusumi, who oversees a company that makes products ranging from Tesla Inc’s electric vehicle batteries to washing machines. Panasonic, Kusumi said at a roundtable brie…

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