Panasonic to Disband and Split Into Three Companies

TOKYO, Feb 06 (News On Japan) - Panasonic Holdings has announced plans to dissolve its core subsidiary, Panasonic Corporation, and split it into three separate companies as part of its business restructuring efforts.

The company revealed on February 4th that it has yet to decide whether the new entities will retain the Panasonic name. This restructuring, set to begin in the next fiscal year, also includes a review of unprofitable businesses, such as home appliances, and workforce reductions through voluntary retirement, aiming to improve profitability by over 300 billion yen.

Regarding its struggling television business, Panasonic stated that while it is prepared to sell the division, it currently sees no potential buyers. The company is now considering options including a complete exit or a sale.

Source: YOMIURI

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