Panasonic in trouble: the company is considering transferring or withdrawing from businesses with low growth potential by fiscal 2026, President Kusumi calls it a “crisis situation”
Asahi reports that Panasonic has not achieved its medium-term strategy goals and President Kusumi calls it a "crisis situation":
Panasonic Holdings (HD) has revealed that it expects to fail to achieve two of the three targets set in its three-year mid-term strategy ending in fiscal 2024. President Yuki Kusumi acknowledged that the situation is "critical, as we are not meeting expectations."
Furthermore, the company announced that it will take drastic measures to eliminate "challenging businesses" with poor growth potential by fiscal 2026, with consideration given to business transfers and withdrawals. While he did not reveal the specific names of "challenging businesses,'' he cited home appliances, televisions, and some air conditioning businesses as examples of "challenging'' businesses.
Dclife writes further:
There have been reports in the past that Panasonic's camera business will be at a critical juncture in 2022 (see PR post here), so we can only hope that the camera business will not be affected in the future.
Related previous coverage:
Japanese website reports that Panasonic may also exit the camera business just like Olympus
Ymcinema talks about Panasonic abandoning the cinema camera lineup
Panasonic to dismantle digital camera business and place it under the umbrella of other operations
