---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/40032180.md"
description: "$Panasonic Holdings Corporation(PCRHY.US)Stock NaturePCRFF: Belongs to "Foreign Ordinary Shares". Investors directly purchase the original shares listed on the local (Japan) exchange.PCRHY: Belongs to "American Depositary Receipts" (ADR). It is a certificate issued in the U.S. based on a certain ratio after the original shares are deposited with a custodian bank.Issuance MethodPCRFF: Typically purchased directly by institutional investors or large corporations through bank intermediaries.PCRHY: Currently belongs to Unsponsored ADR. Panasonic originally had a "Sponsored ADR" with the code PCRFY, but terminated its depositary agreement with JP Morgan in 2024, switching to banks like Citigroup to issue the unsponsored PCRHY.ADR Custody Fee (ADR Service Fee)This is the biggest difference between the two. As an ADR, PCRHY is managed by the depositary bank (e.g., Citigroup), which deducts a custody service fee (Pass-through Fee) from the distributed dividends.PCRHY: When dividends are paid per share, a service fee of approximately $0.01 to $0.05 per share is usually deducted by the bank.PCRFF: Belongs to ordinary shares, does not involve an ADR custodian, and therefore has no such fee."
datetime: "2026-04-20T06:13:11.000Z"
locales:
  - [en](https://longbridge.com/en/topics/40032180.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/40032180.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/40032180.md)
author: "[chance li](https://longbridge.com/en/profiles/8322870.md)"
---

# $Panasonic Holdings Corporation(PCRHY.US)Stock Nat…


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