Panasonic Accelerates Global Appliance Business Expansion May 24, 2012

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Panasonic Corp. announced business policy for fiscal year 2013, including its Appliances Company, eight other "domain companies" and one marketing sector.

Unlike several other business units of Panasonic Corp, its Appliances business reported an operating profit in 2012. Operating profits was 61.3 billion yen (approx. US$770 million) on sales of 1,114.6 billion yen (approx. $14 billion). The company is targeting fiscal 2013 operating profit of 80 billion yen on sales of 1,145 billion yen.

The company intends to accelerate the global expansion of the appliance business and promote itself under the theme of the "No. 1 Green Innovation Company in Appliances".

In fiscal year 2013 the company intends to accelerate global growth of consumer appliances primarily in emerging markets. Its three primary products will be air-conditioners, refrigerators, and washing machines. The company will also work to drive global market development for small appliances related to health, beauty/grooming, and cooking.

The business also will expand its business-to-business equipment and devices business globally - particularly large air-conditioners and refrigeration systems.

The appliance business also intends to strengthen its production capabilities to make it more competitive as a manufacturer.

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