Latest news with #PanasonicCorp
Yomiuri Shimbun
07-07-2025
- Business
- Yomiuri Shimbun
Japanese Solar Panel Makers Eye Business Opportunities after Ordinance Mandates Installation on New Houses
Japanese solar panel manufacturers are taking a proactive approach as they see business opportunities following the decision by the Tokyo metropolitan government and the Kawasaki city government to require that newly built houses have solar panels installed in April. Although Chinese manufacturers currently dominate solar panel production, Japanese manufacturers are looking to compete with new products and initiatives. These include new types of solar panels that are better suited to Japanese homes, where securing space for installation is difficult, as well as a system that reduces users' costs. New type of product In late May, Sharp Corp. released a new type of solar panels that can prevent light-related issues by reducing optical reflection. By adopting glass with pebble-grained surfaces, light is diffused and reflected at a level 1/20 to 1/30 that of conventional models. Solar panels are generally placed on the south side of roofs to maximize sunlight exposure. In urban areas, particularly in central parts of big cities, where land is limited, panels are often placed on the north side of roofs. However, since sunlight is reflected at low angles on the north side of roofs, there is a tendency for light to enter nearby houses. Reducing cost burdens In June, Panasonic Corp. introduced a system that enables companies to install solar panels without paying any upfront costs through Osaka Gas Co.'s Power Purchase Agreement (PPA) program. Under the program, Osaka Gas owns the solar power generation systems for 15 years from installation and recovers the initial costs by selling the power generated by the systems. During this period, homeowners can purchase electricity from Osaka Gas at discounted rates. Starting in the 16th year, homeowners gain ownership of the solar power generation systems free of charge and can use or sell the electricity produced. According to the Economy, Trade and Industry Ministry, the average cost of installing solar power generation systems for newly built houses in 2021 was ¥271,000 per kilowatt. This figure rose to ¥286,000 in 2024. The head of Panasonic's sales promotion division said: 'While both installing costs and electricity bills are on the rise, we aim to reduce users' financial burden with the new system.' The government has set a goal to reduce greenhouse gas emissions by 46% by fiscal 2030, compared to fiscal 2013 levels. In order to achieve this goal, the government plans to increase the percentage of newly built homes with solar panels from 36.5% in fiscal 2023 to 60% in fiscal 2030. Progress has been made thus far in terms of the rate of solar panel installations. The number of solar panel systems in homes has nearly doubled, growing from about 1.69 million in fiscal 2013 to about 3.35 million in fiscal 2023. Chinese makers gain strength However, Japanese manufacturers, which were once dominant in solar panel production, are now being pushed aside by Chinese manufacturers who are gaining strength by selling low-priced products. According to the Japan Photovoltaic Energy Association, about 97% of solar panels purchased in fiscal 2004 in the nation were made by Japanese makers. But in fiscal 2024, about 94.9% of purchased panels were made by foreign manufacturers. Prof. Yuzuru Ueda of Tokyo University of Science, an expert of engineering studies, said: 'It's difficult to differentiate solar panels made by Chinese manufacturers in the current technological landscape. Japanese manufacturers should leverage their strengths in design and reliability to suit Japan's housing conditions and respond to the needs of clients very thoroughly.'
IOL News
09-05-2025
- Business
- IOL News
Japan's Panasonic targets 10,000 job cuts worldwide
A man is seen next to Panasonic Corp's logo at Panasonic Center in Tokyo A man is seen next to Panasonic Corp's logo at Panasonic Center in Tokyo Image: File. Japanese electronics giant Panasonic, which supplies batteries to Tesla, said Friday it will target 10,000 job cuts worldwide as part of efforts to boost profitability. The cuts, which represent around four percent of the group's workforce of nearly 230,000, will be implemented mainly in the current financial year to March, it said. Panasonic said it would "thoroughly review operational efficiency at each group company, mainly in sales and indirect departments". It will "reevaluate the numbers of organisations and personnel actually needed", a statement said. "This measure targets 10,000 employees (5,000 in Japan and 5,000 overseas) at consolidated companies," and will be executed "in accordance with the labour laws, rules, and regulations of each country and region". Panasonic became a global household name in the latter half of the 20th century, pioneering electronic appliances from rice cookers to televisions to video recorders. The Osaka-based conglomerate is a major battery supplier for Elon Musk's US electric vehicle maker Tesla, and also operates in the housing, energy and auto sectors. Panasonic in February outlined a management reform programme to resolve "various structural issues" at the company. "Through the current management reform, the company aims to improve profit by at least 150 billion yen ($1 billion)," it said Friday. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ In its full-year earnings report, also released Friday, Panasonic forecast a 15 percent decline in net profit this year, and an eight percent slump in sales. In the financial year to March 31, 2025, the group logged a 17.5 percent decline in net profit to 366 billion yen. Panasonic is facing "ongoing business environment changes (such as) a slowdown in demand for EVs", it said. As for US trade tariffs, "their impact is not factored into this forecast", Panasonic added. "The company continues to monitor the tariff situation and aims to minimize the resulting impact by taking measures from both short-term and medium- to long-term perspectives." In an interview published in April, Panasonic Holdings CEO Yuki Kusumi told Japan's Nikkei newspaper that personnel cuts would be necessary, without detailing their scale. Job cuts would be needed "in order for us to perform at a competitive level against other firms", he told the Nikkei. In Panasonic's history, the group has also gradually expanded its headcount during profitable periods, Kusumi stressed. AFP
Yahoo
09-05-2025
- Business
- Yahoo
Japanese tech company Panasonic cuts 4% of its global workforce as profits falter
TOKYO (AP) — Panasonic will slash its global workforce by 10,000 people, half in Japan and half overseas, to become a more efficient, 'lean' company, the Japanese manufacturer said Friday. The job cuts, amounting to about 4% of its 230,000 workers, will include early retirement offers in Japan and closures and consolidation of various operations, according to the Osaka-based maker of home appliances, such as washing machines and refrigerators. Panasonic also makes solar panels, delivery robots, facial recognition technology, fuel cells for homes and EV batteries for Tesla cars. Also Friday, Panasonic reported a 17.5% drop in profit for the fiscal year through March at 366 billion yen ($2.5 billion), down from 443 billion yen in the previous fiscal year. It sales totaled 8.46 trillion yen ($58 billion), down 0.5% year-on-year. The company said the slowing global economy and weaker demand for electric vehicles were a factor behind its weak results. But sales of air-conditioners and consumer electronics products held up in Japan, it said. The company's chief executive, Yuki Kusumi, told reporters his heart felt heavy in announcing the job cuts. Panasonic did not mention U.S. President Donald Trump's tariff policies as a factor behind its drop in profit. Panasonic forecast that its profit will improve by at least 150 billion yen ($1 billion) by the fiscal year through March 2027, and by 300 billion yen ($2.1 billion) by the fiscal year through March 2029. That will be achieved through management reform, closure of unprofitable businesses and building a system that's more responsive to changes in the business environment, officials told reporters. But the turnaround will take time and profit will slip further in this fiscal year. For the fiscal year through March 2026, Panasonic is projecting a 310 billion yen ($2.1 billion) profit on 7.8 trillion yen ($54 billion) sales. Panasonic said it remains bullish about EV batteries and plans to supply Japanese automakers Mazda Motor Corp. and Subaru Corp. in new strategic partnerships. ___ Yuri Kageyama is on Threads: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
