Panasonic Corporation (to Panasonic kabusikigaysya) is large Japanese machine-building corporation, one of the world's largest producers of home appliances and electronic goods.
Structure of the company
As of May, 2020 the structure of business of Panasonic includes four main divisions:
- Appliances (home appliances);
- Eco Solutions (lighting system and ventilation, renewable sources);
- Connected Solutions (mobile phones and digital cameras, different communication and electronic equipment);
- Automotive & Industrial Systems (automobile electronics, accumulators, semiconductors and robotic systems);
Panasonic in Russia
For 2011 the company included 638 enterprises. Including:
The main trademarks under which products are turned out:
- Panasonic (consumer electronics for mass market, including: plasma display panels, DVD players, phones, projectors, digital cameras and also computer chips, automobile equipment;
- Technics is audio equipment, since 2008 it is used only for the professional musical equipment for DJing);
- Lumix (Panasonic Lumix) is a subbrand of family of digital Panasonic cameras. Under the name of Lumix the broad spectrum of devices is issued: from compact to single-lens reflex cameras.
Among the trademarks which were any more not used by the company:
- National (the consumer electronics for the Japanese market, since 2008 are not used);
- Quasar (the cheap consumer electronics for the market of North America, since 2008 are not used);
- Ramsa (the professional audio equipment, since 2008 is not used).
Main article: Financial performance of Panasonic
2020: Decline of revenue by 6% because of COVID-19
In 2020 financial year Panasonic received revenue in 7.49 trillion yens ($69.8 billion) that is 6% less than sales of year prescription. The company connected this recession with COVID-19 coronavirus pandemic effects and also with changes in a product portfolio and decrease in investments in China.
The direction on release of home appliances in 2020 reporting year generated Panasonic revenue in 2.59 trillion yens that is 6% less, than the previous year. This recession happened in many respects because of reduction of sales of the equipment used in the systems of the smart house. At the same time the company noted surge in sales of conditioners.
In 2020 to a fiscal year earned 1.48 trillion yens from deliveries of automobile solutions of Panasonic that is 3% less in comparison with previous year. The company noted that the outbreak of a coronavirus painfully struck automotive industry, and expansion of capacities for production of rechargeable batteries did not allow to compensate this negative factor.
The division on release of industrial solutions showed 10 percent decrease in turnover, to 1.28 trillion yens. For 6% and 8% annual sales fell in divisions of Life Solutions and Connected Solutions — to 1.91 and 1.04 trillion yens respectively.
Panasonic completed 12-month reporting period closed on March 31 2020 calendar year with net profit in the amount of 225.7 billion yens ($2.1 billion). It is 21% more, than the previous year. As the Japanese producer claims, profit was reduced because of expenses on restructuring.
The gradual failure from production of LCD displays to the 2021st became one of stages of this restructuring in 2020 to a fiscal year. The company tried to react to "fierce competition and evolution" of business, but came to a conclusion that further work in this market will be unprofitable, said in the statement of the Japanese vendor.
Plans to invest 75 million dollars in a 5G equipment
On June 23, 2020 it became known that Panasonic intends to increase production of the materials used in equipment manufacturing for a wireless 5G of networks. Anticipating sharp increase in demand for such solutions in China, the Japanese corporation intends to invest about 8 billion yens (75 million US dollars) in expansion of the plant in Guangzhou. The first lines should begin work as fall of 2021, performance of the enterprise at the same time will grow by 50%.
According to the research center Fuji Chimera Research Institute, in 2019 about 40% of world investments into development of base stations fell to the share of China. And though during the trade conflict of the USA and China Washington toughened prohibition on delivery of semiconductors and other hi-tech products of company Huawei, Panasonic does not expect serious influence on the business on release of printed circuit boards yet.
The Japanese corporation will increase production of payments and self-adhesive bands using special pitches for fastening of a copper foil. Developments of Panasonic influence a 5G signal significantly less, without weakening it in difference from the traditional materials which are applied in production of electropayments. They are also simple in use and are suitable for production of multilayer printed boards.
Panasonic calculates that its products will also find application in production of antennas of base stations of fifth generation and also servers and routers. The corporation manufactures similar components and materials in Japan and on Taiwan, but decided to begin increase in production in the market which looks the most perspective.
Selection of 200 million yens on development of vaccines against COVID-19
On May 20, 2020 it became known that the Japanese technology corporation Panasonic will support researches and development of drugs and vaccines against COVID-19 which for May, 2020 is conducted by the University of Osaka, prefecture of Osaka and some other the organizations. Selected 200 million yens for support of the project of Panasonic. Read more here.
Declaration of creation of Prime Planet Energy & Solutions - The joint venture with Toyota
On February 3, 2020 TAdviser it became known that the Japanese Toyota Panasonic Motor Corporation and Corporation announced creation of the joint company Prime Planet Energy & Solutions, Inc. specializing in production prismatic li-ion cells for cars. In more detail here.
Participation is in collusion at sale of disk drives of HP company
At the beginning of January, 2020 HP Inc. seized $439 million from the Taiwan supplier of Quanta Storage disk drives for collusion to Samsung, Sony and Panasonic for overestimate of the prices. The American court decided to fill losses which the HP company suffered as a result of these frauds, in a threefold size. Read more here.
Sale of semiconductor business of Nuvoton company for $250 million
At the end of November, 2019 Panasonic announced sale of semiconductor business of Taiwanese company of Nuvoton Technology. This transaction worth $250 million the Japanese giant continued to get rid of unprofitable assets for the purpose of expense optimization.
The division of Panasonic which buys Nuvoton is engaged in development of controllers of a power supply and sensors for smartphones, cars and cameras of security. Earlier in November, 2019 a part of this business was sold to the Japanese company Rohm.
The perimeter of the transaction with Nuvoton included sale of all joint venture which 51% belong to Tower Semiconductor, and 49% — Panasonic.
Panasonic sold semiconductor assets within strategy for reduction of the fixed expenses on 100 billion yens (920 million dollars) to financial year which will come to the end at the end of March, 2022.
Panasonic unsuccessfully tried to give a new impulse to the business connected with microchips including due to cooperation with car makers and deliveries of component parts for management of the accumulator systems on electric vehicles.
Market leadership of the protected mobile devices of Europe
The Panasonic corporation, according to the last market research which is carried out by the international research company VDC Research became leading manufacturer of the protected mobile devices of century To Europe. So, the market share of protected notebooks Panasonic Toughbook made 57% protected tablets Panasonic Toughpad — 56%, reported in Panasonic on November 29, 2018.
Now the company is aimed at a segment of the protected mobile devices with the diagonal of the screen of 5 inches and less, also known as the data collection terminals (DCT). Here the market was already entered by several innovation products of Panasonic for fast-growing sectors of economy.
|After serious consolidation the market of the protected shipping documentations grows approximately for 4% a year, thanks to actively developing sectors of retail, production, transport and logistics — David Krebs from VDC Research noted. — An exit of Panasonic, the leader in a segment of the protected tablets and notebooks, on the market of the protected handheld computers can expand considerably the opportunities available to both end users, and solution providers.|
As of November, 2018 handhelds already occupy more than a third of a line of Panasonic.
Transfer of the European headquarters from London to Amsterdam
At the end of August, 2018 it became known of transfer of the European headquarters of Panasonic from London to Amsterdam. The Japanese company is afraid of the tax problems connected with the planned exit of Britain from the European Union.
In a conversation with the Nikkei newspaper the head of division of Panasonic in Europe Laurent Abadie told that the company discussed the decision on change of head office in the region within 15 months.
At the London office 20-30 people work. 10-20 employees who are engaged in audit and finance will move to the Netherlands. In London there will be only employees working with investors. Moving is planned for October, 2018.
According to Laurent Abadiye, transfer of the European headquarters to Holland will allow the company to avoid problems with movement of people and goods.
Earlier the European headquarters promised to transfer from Britain to different EU countries many large international corporations which are afraid of a country exit without conclusion of an agreement about free trade. In this case they will lose easy access on the European market.
In 2016 said to Britain that will lower corporate tax which by the end of August of the 2018th makes 20% to hold the international corporations in Britain after a country exit from the EU.
In addition to Panasonic, other Japanese producers not too willingly take away business from Britain in response to Brexit though some Japanese insurance and financial companies, including Nomura Holdings, Daiwa Securities, Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group, already made it, Nikkei notes. About 10% of revenue of Panasonic are the share of the European market.
Start of sales of hydrogen heating systems
In June, 2017 Panasonic announced sales of hydrogen heating systems for apartment houses in Great Britain and Austria. It is attempt of the company to strengthen the leading positions in this sector and to take a big step to use of hydrogen in a future fuel quality.
The German company Viessmann Group became the partner of Panasonic within the project. According to the marketing and sales manager of department of smart power supply systems of Panasonic to Shinsuka Mority (Shinsuke Morita), sales of the heating systems on the basis of hydrogen will begin in August, 2017.
Hydrogen fuel elements will become essentially new method of energy supply to apartment houses. A system works at a basis of natural gas which is supplied by the local gas supplying company and pumps it in fuel batteries. The processor in such batteries processes natural gas into hydrogen. Connecting, hydrogen and oxygen begin to make electrical energy. The excess of the generated heat provides the house with hot water.
In 2014 Germany became the first foreign market which there was a Panasonic company with the fuel batteries. It became possible thanks to partnership of the company with the German producer of the heating equipment Viessmann. In 2016 in Germany about 1000 fuel batteries were sold, and the majority were equipped with the system of Panasonic.
Said to Shinsuka Morita that the company is going to sell tens of thousands of such products in Europe by 2020.
In Japan the Panasonic company sold about 200,000 fuel batteries for apartment houses since 2009. Earlier Toshiba announced cessation of production of fuel batteries for houses after sale about 80,000 units of these products.
Expansion of scientific base
On April 24, 2017 the press service of Panasonic corporation announced plans to involve for work 1 thousand engineers to participation in research and development in the field of the artificial intelligence (AI) and Internet of Things (IoT).
Plans of the company are based on vision of AI and IoT drivers of growth and stretch for the next five years.
The division of business innovations which is created on April 1, 2017 should implement development and promotion of AI technologies of Panasonic.
|Now about 100 engineers of the company are engaged in AI projects of Panasonic. In the next two years their number is supposed to be increased up to 300, and in three years — up to 1 thousand people.|
Esiyuki Miab, director of a division of business innovations
This scientific group will not be limited to development of technologies for home appliances with elements of artificial intelligence. Among tasks there is a search of drivers of growth of the company. From AI technology and Internet of Things smart houses, automotive industry, electronic devices and other directions of business of Panasonic can take benefit. Results of researches are going to be integrated with the existing developments.
According to Panasonic, the scale of business will be tens of billions of yens, and the created division will become one of core elements of corporation.
2014: Fields of developments: the smart city, the smart house, technologies for cars
"Smart" city of Fudzhisava
Example of solutions is the "smart" city of Fudzhisava in Japan which construction began in 2011. The city is expected 1000 households, the first residents drove to the houses quite recently – in August, 2014. In the unique smart city eko technologies and complete solutions of Panasonic found the broad application. In each house the systems of Panasonic Smart Energy management (management systems for the electric power) which consist of solar batteries, accumulative accumulators and also the smart platform of electronic control and distribution of energy are installed. Also in all houses surveillance cameras of Panasonic, and in several points of the city – the station of electric vehicles and electric bicycles are mounted.
"Smart" platform of control of the electric power and network control of electronic devices of the house
Panasonic delivers to developers of hi-tech residential quarters the complex platform for control over expenses of the electric power, security and control of all electronic equipment of the house: fire safety, surveillance cameras, electric power accumulators, electric devices, etc. The Wii box control panel is heart of all network communications of the house. It is connected to all home devices on the mobile channel and broadband communication. It is possible to set automatically working scenario: temperature of electric heaters, time of activation / deactivation of signaling of an entrance door, inclusion of light with nightfall. A system flexibly adapts to external conditions – if outside hot, it reduces heating indoors, etc. Also far off via the smartphone it is possible to check whether the door is closed, whether signaling is included, whether sockets with electric devices are switched-off.
Automobile sensor systems of security
One more new development of Panasonic – special sensors of traffic safety which are installed both in the car, and along the road – in places where the probability of a dangerous situation is high. For example, if the car stops at the intersection, and the part of the road is not visible to it because of other vehicles, special sensors in the car and outside at the intersection will communicate and "will announce" danger – appearance of the pedestrian, cyclist or motorcyclist. Information on potential threat is displayed on the screen in the machine, and the driver can react to it in time.
The Panasonic company which received record net loss in 9.7 billion dollars in 2011 financial year is going to lay off number of office workers twice from the current 7 thousand people. The most part of reduced will be sent to early pension. The Japanese producers electronic engineers suffer from a high rate of yen and the competition to foreign giants, such as South Korean Samsung Electronics.
The Panasonic corporation intends to sell by the end of March, 2013 the main office building in Tokyo. The management of corporation took such step, fighting against heavy financial losses, transferred Reuters in December, 2012. The corresponding negotiations are conducted with different financial institutions. After sale of office the company is going to rent at it a part of squares.
In the building built in 2003 taking into account the latest energy-saving technologies 2 thousand employees work. Panasonic is the largest commercial employer of Japan. Earlier the Panasonic corporation stated that at it the second year in a row will be net loss for the amount nearly 10 billion dollars. In the financial statement for the I half-year 2012-2013 financial years are said that net loss according to the results of all year (till March, 2013) can make 765 billion yens (9.6 billion dollars).
Thus, the loss for the current financial year will become the second to the largest in the history of the company after a record loss for 772 billion yens the previous year.
In July, 2012 Panasonic predicted that at the end of 2012-2013 it of a fiscal year will get net profit in the amount of 50 billion yens (630 million dollars). Review of the forecast from profit for a loss is connected with write-off of so-called deferred tax assets (on income tax) which were formed as a result of losses of Panasonic for the last few years.
As the company does not expect fast return to profitability now, she was obliged to write off a part of deferred tax assets according to requirements of the reporting under US GAAP.
In November, 2012 the international rating agency Fitch Ratings downgraded the issuer and the long-term ratings of a priority unsecured debt of Panasonic to VV with VVV-. The ratings were downgraded against the background of lowering of company competitiveness in a key segment, namely in production of TVs and panels. At the same time Fitch notes that Panasonic moves in the right direction, having started a number of restructuring programs of business.
Earthquake in Japan: three plants suffered
In March, 2011, the CEO of the company, Junichiro Kitagava, noted that as a result of an earthquake in Japan three plants of the company suffered that, perhaps, will affect sale of digital devices .
Sponsorship of the Olympic Games, races and football komanzha
Panasonic is a general sponsor of the Olympic Games in area of video audio up to 2016.
Panasonic was the main sponsor of the Toyota F1 project also famous as Panasonic of Toyota Racing. Hero Matsusita, the grandson of the founder of the company — the former racer, actively participated in this project.
Panasonic is also the owner of the Japanese soccer team Gamba Osaka.
2009: Merge to Sanyo Electric company
2008: Renaming into Panasonic Corporation
2008 — since October 1, 2008 company Matsushita Electric Industrial Co., Ltd. changed the name for Panasonic Corporation. All brands of the company at which names there were names of Matsushita or National were subject to renaming. Along with change of the name, the company works on complete transition of the National brand for Panasonic in Japan which should come to the end by March, 2010.
Sale to JVC company
2007 - the company sold a controlling stake of JVC company to group of investors.
328 thousand employees
Total number of personnel — 328 thousand people (on March 31, 2007).
2002: Dynamics of a share of Panasonic in the market of cell phones
Leaders in sales of mobile phones and smartphones from 1992 to 2018 in animation are lower.
The 2000th: Merger of Sanyo, transition to a uniform brand - Panasonic
- 2001 — Panasonic released Nintendo GameCube ("Q" in Japan), the using DVD
- 2002 — the goods under the name of Technics which were on sale in the USA and Europe are renamed into Panasonic
- 2003 — the world brand and the motto — "Is provided to Panasonic. Ideas for life.". Though the company used brands of Panasonic and National for a long time, in 2003 was decided that the brand Panasonic will become global for gain of competitiveness in the world market along with a slogan — "Panasonic ideas for life".
- For the beginning of December, 2006 capitalization of the company according to the results of biddings on Tokyo Stock Exchange — $46.58 billion. In 2006 the class action of an occasion of the life of lamps stated in advertizing in projective TVs with the following model numbers was submitted: PT-50LC13, PT-60LC13, PT-50LCX63 and PT-60LCX63.
The 1970th: Start of sales of VHS cartridges
- 1977 — the beginning of sale of videotapes of the VHS format.
- 1979 — it is released legendary vinyl find fault-fay with the Technics SL-1200 MK2 player which became afterwards the international standard in DJ of the industry.
- 1983 — release of the home computer Panasonic JR-200
- 1986 — the beginning of use of a name of Panasonic as a trademark in Japan
- 1987 — the beginning of release
- 1989 — the beginning of large-scale reform of technology departments
- 1990 — renaming of consumer electronics under the name of National, in Panasonic (in Japan)
- 1993 — attempt of Panasonic to get profit in the market of video games with the 3DO Interactive Multiplayer video game console; strong competition from Sony PlayStation did not allow to develop to this prefix and its release was complete at the end of 1995
- 1993 — canceling of the agreement on joint venture with Philips and change of the contract for the mode of the closed license
- 1994 — creation of Panasonic Shun Hing Industrial Sales joint venture (Hong Kong) of Co., Ltd and Panasonic SH Industrial Sales (Shenzen) Co., Ltd in China with Shun Hing Electric Works (Hong Kong); the Shun Hing — Rasonic trademark — becomes under control Panasonic
- 1997 — creation of the consolidation policy of groups which led to reduction of subsidiary companies
The 1960th: development of the VHS standard for household video
- Since the beginning of the 60th years of the 20th century of the company the controlling stake of JVC company (Victor Company of Japan, Limited), the developer of the standard of household video of VHS was owned.
- 1965 — commissioning of weekly two-day days off for workers; acceptance of the new trading system reducing quantity of the links involved in sales process
The 1950th: start of cooperation with Philips, creation of the brand of Panasonic
- 1952 — foundation of Matsushita Electric Industrial Company, at technical cooperation with the Netherlands company Philips Electronics; construction of the new plant and further development
- 1954 — the beginning of cooperation with JVC
- 1955 - the brand of Panasonic was created by Matsushita company in 1955. It intended for use in the USA, Canada and Mexico (it was initially going to use the National trademark, but it was already registered by others). The name of Panasonic was formed of the Ancient Greek word "pan" that means "everything" and Latin "sonic" — "sound" as at first this trademark was used for the audio equipment.
- 1957 — creation of the effective National Shop system — retail chain stores, held for sale goods under the name of National
1918: Foundation of Matsushita Electric Factory
1918 — the Japanese businessman of Konosuke Matsusit founds the Matsushita Electric Factory plant. From the moment of education in 1918, the company was known as Matsushita Electric Housewares Manufacturing Works
1946: Imposing of restrictions for the company after World War II
In 1946 imposing of restrictions for the company by the General Staff of allied forces (Allied Powers General Headquarters) took place.
1941: Beginning of production of military products: ships and airplanes
In 1941 the company began productions of military products; production of ships and airplanes from a tree.
1927-1935: Start of the National trademark
- 1927 — the National trademark is provided.
- 1929 - the name is changed to Matsushita Electric Manufacturing Works.
- 1931 — production of radio receivers began
- 1932 — acquisition of the patent for creation of the radio equipment and its free providing to other Japanese producers, as a contribution to development of electronic industry of Japan
- 1933 — acceptance of a system of separation of the company; a construction of the large plant in Kadom, the prefecture Osaka; transfer of production on the new plant
- 1935 — restructuring of Matsushita Electric Industrial Company; creation of Matsushita Electric Works subsidiary company. Name Matsushita Electric Industrial Co., Ltd. the company carried since 1935 when it became joint-stock corporation.
- ↑ Panasonic of 2020 financial results
- ↑ Panasonic to sell its chip unit to Taiwan's Nuvoton for of $250 million
- ↑ Panasonic to move European headquarters out of UK
- ↑ Hydrogen for Home Heating Gets A Push in Europe From Panasonic
- ↑ Panasonic will involve in development of artificial intelligence of 1000 engineers
- ↑ Digital cameras can rise in price because of accident in Japan. //news.mail.ru. Проверено 29 марта 2011.
- ↑ web|url=http://www.vz.ru/news/2009/12/10/357435.html|title=Panasonic Sanyo Electric Co.Шаблон:Cite company and Sanyo signed the merger agreement
- ↑ Panasonic took under control Sanyo. //sd.net.ua. Проверено 29 марта 2011.
- ↑ of bread machines B 1987 the first bread machine is developed