Panasonic emerging from Japan problems
May 24, 2011
By Chris Forrester
Japanese electronics giant Panasonic thinks that despite the recent problems with crucial component supplies it believes it can emerge stronger thanks to Japan’s new energy and electrical efficiency strategy.
Panasonic’s president Fumio Ohtsubo says his company’s recent efforts to move toward environmentally friendly products and renewable energy would benefit. Panasonic’s goal is to transform itself into “the No. 1 green innovation company in the electronics industry” by 2018, while at the same time aiming to grab the biggest share of the worldwide market for lithium-ion batteries, and use its acquisition of Sanyo to jump into the top three in the global solar business.
For Panasonic, the new thinking on energy represents a “big chance” for the company, Ohtsubo said. “In the mid- to long-term, there are big overlaps between Japan’s recovery vision and Panasonic’s concept,” he said. Nevertheless, he admitted that Panasonic would first have to weather challenges in the short term.