Panasonic Electronic Devices to Consolidate Its Japanese
Panasonic Electronic Devices Co., Ltd. announced today that the company will consolidate its eight subsidiaries in Japan and establish Panasonic Electronic Devices Japan Co., Ltd. on April 1, 2008.
Aiming to become a company contributing to the creation of customer value, the company has engaged in device business activities as a wholly-owned subsidiary of Matsushita Electric Industrial Co., Ltd. with manufacturing sites around the world. In Japan, Panasonic Electronic Devices established several subsidiaries. Managed autonomously, each of them has been striving to enhance its competitive edge in the industry.
Electronic devices are becoming more important as key components of electronic products, which are increasingly digitized. At the same time, convergence of information, communications and AV equipment industries are accelerating their importance. Under these circumstances, electronic device companies are required to increase their capabilities in technology development and manufacturing.
The establishment of the new company will enable Panasonic Electronic Devices to take advantage of the strengths of each subsidiary, including “black-box” technologies and manufacturing skills, beyond the framework of individual subsidiary.
Panasonic Electronic Devices aims to become a strategic partner for each customer, providing value added products and services by implementing the following:
1. Further concentration and strengthening of the businesses by utilizing improved liquidity in business assets;
2. Achieving optimum standardization of technical capabilities and skills; and
3. Strengthening cost competitiveness by seeking streamlining and efficiency of operations.
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