Panasonic Corp. surged the most in three months in Tokyo trading after an analyst at Credit Suisse Group AG estimated declines in the Japanese currency may add as much as 30 billion yen ($294 million) to earnings this year.
Panasonic Corp., the Japanese manufacturer struggling to make its television business profitable, plans to start producing flat-panel TVs in India to fuel sales growth and meet local regulatory demands.
Panasonic Corp., seeking to turn around after a record loss last year, said restructuring costs this year may exceed an initial estimate as the company takes charges to cut jobs and accounts for depreciation of factories.
In its 95-year history, Panasonic Corp. has grown into a consumer-electronics giant producing everything from TVs to eyelash curlers. New President Kazuhiro Tsuga is deciding what it can’t afford to make any more.
Panasonic Corp., Japan’s largest appliances maker, named Kazuhiro Tsuga as president three weeks after forecasting a record net loss because of slowing demand for TVs and production halts caused by floods in Thailand.
The economist picked by struggling Panasonic Corp. to become its first female director said Japan’s electronics makers need drastic changes to align their business models with those of companies including General Electric Co. and Siemens AG.
Panasonic Corp. named the first female board member in its 95-year history while trimming the executive ranks as the electronics company tries to lower costs and speed up decision-making after a record annual loss.