28 April 2011
President Fumio Ohtsubo of Panasonic Corporation today announced its business policy for the next year, touching on the impacts of the March 11 on Panasonic's operations and outlining plans for its lithium batteries and solar business.
While operations at Panasonic factories in the disaster-hit region have been recovering steadily, disruptions in its supply chain are still affecting the group's operations. Panasonic plans to cut cost and investment in accordance with changes in sales stemmed from the disaster, it is nevertheless determined to play a significant role in the country's reconstruction efforts with its products and business activities.
Panasonic will undergo group-wide reorganization, shrinking its five business segments to three: Consumer, Components & Devices and Solutions. Panasonic's energy products fall into the Components & Devices sector. The company's goal is to restructure the company's lithium-ion battery business and increase product competitiveness by shifting production to China. Panasonic will also actively seek to optimize procurement on a global level.
The company will invest 55 billion yen through fiscal 2013 in China, including construction of a new factory in Suzhou, to strengthen its integrated production system from electrodes to cells and battery packs.
In the solar business, it will cut production costs of its HIT solar cells, boasting their energy conversion efficiency as well as enhance its solar cell product lineup by outsourcing polycrystalline solar modules. The company aims for sales of 760 billion yen (115% of FY 2011) or more in fiscal 2013.