
Japanese manufacturer of household electronics and batteries for electric vehicles Panasonic Corp. is preparing for reorganization, in under which the plan is to resolve structural problems of the company, in including cost reductions, wrote “Interfax”.
GuoZhongHua/Shutterstock/Fotodom
By 2027 financial year (ends in March 2027 year) Panasonic plans to increase net profit by 150 billion yen ($966 million) and another by 150 billion yen by 2029 financial year inclusively.
To achieve the set objectives the company is preparing to reorganize its staff, improve productivity and achieve savings on fixed costs. In addition, Panasonic will work to increase profitability in prioritized business areas in which it has invested. Also in the next financial year the management of the company intends to determine with the future of “troubled businesses”.
Panasonic’s net profit for three quarter 2025 financial year ended 31 December, dropped by 25%, to 308.77 billion yen, operating profit increased by 9%, to 348.3 billion yen, revenue increased by 2%, to 6.4 trillion yen. According to the company’s forecast, by the