Panasonic Holdings aims to invest 600 billion yen in core growth areas

According to the latest report, Panasonic Holdings plans to invest 600 billion yen (about 4.9 billion US dollars) in core growth areas such as automotive batteries and supply chain software.

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In the three years to fiscal 2024, Panasonic will invest 400 billion yen in “growth areas” including battery cells for electric vehicles, and another in “technical pillars” such as hydrogen energy, Panasonic said in a statement on Friday. 200 billion yen. Panasonic also plans to achieve a cumulative operating profit of 1.5 trillion yen ($12.2 billion) during the same period.

As a 104-year-old Japanese electronics company, Panasonic is looking for new avenues for growth. Former Panasonic CEO Kazuhiro Tsuga spent nearly nine years spinning off struggling businesses such as plasma TVs until he handed the reins to Yuki Kusumi last April.

Yuki Kusumi, who leads a streamlined company that no longer loses money, now faces the challenge of leading Panasonic on a path to sustained growth. Over the past year, he has built Panasonic into a holding company. Kusumi insists that such a structure makes it easier to decide where to invest for long-term growth.

(via)