Panasonic Restructures, Moves Home Appliances to New Consumer Segment
May 3, 2011,
OSAKA, Japan-Panasonic has created a global reorganization plan which includes moving its home-appliance products into a new consumer business sector.
In an address to company employees, Fumio Ohtsubo, president of the corporation, said the reorganization was a key element in Panasonic's "growth imperatives" for this fiscal year. Home appliances are now part of the consumer business sector alongside AVC networks (connectable products for everyday living) and heating, refrigeration and air-conditioning products. Ohtsubo said increasing global sales of small cooking appliances and personal-care and health-care products will be a crucial element in Panasonic meeting its goal of global sales 1.2 trillion yen (about $15 billion by today's conversion) for the heating, refrigeration, air-conditioning and home-appliances product group in this fiscal year, and 3 trillion yen (about $37 billion) in fiscal 2013.
Ohtsubo also said Panasonic has made progress in operations at factories hit by the devastating earthquakes on March 11, but that disruptions in its supply chain are still affecting its overall operations.