Panasonic Holdings Corporation Rotten Score Breakdown

On April 30, 2018, Panasonic Avionics Corporation, then a subsidiary of Panasonic Corporation, entered a deferred prosecution agreement and agreed to pay a $137.4 million criminal penalty for causing falsified books and records. The SEC separately ordered the parent to pay approximately $143 million after finding FCPA, accounting-fraud and internal-control violations. The SEC described an $875,000 no-work consultancy offered to an official of a state-owned airline and premature recognition of more than $82 million in revenue. Panasonic Corporation changed its name to Panasonic Holdings Corporation in 2022. Primary sources: https://www.justice.gov/archives/opa/pr/panasonic-avionics-corporation-agrees-pay-137-million-resolve-foreign-corrupt-practices-act and https://www.sec.gov/newsroom/press-releases/2018-73 ; corporate continuity: https://news.panasonic.com/global/press/en220131-5