Panasonic Global President Reinforces Importance of India

Mumbai, Maharashtra, India, Tuesday, April 30, 2013 -- (Business Wire India) 
India identified as the centerpiece of future for the company: investing Rs.
1,500 crores towards expansion in the next three years 
Panasonic Corporation President Mr. Kazuhiro Tsuga revealed the strategic
outlook for the company in Mumbai which encompassed company restructuring plans
and the areas which the group will be focusing on going forward. With these
changes, the new management system is expected to speed up decision-making and
enable business operations from the viewpoint of customers, with divisions
handling everything from product development to manufacturing and sales. In this
major initiative to reshape the electronics company, he also talked about the
new company vision of creating ‘A Better Life, A Better World'. It is a vision
that requires the commitment, involvement and collaboration of all the company's
stakeholders. 
Identifying India and Brazil as the centerpiece of the future, Mr. Tsuga
emphasized on driving growth by B2C businesses and profitability by focusing on
B2B business specific to Energy, Security and devices to service the ever
growing infrastructure of Indian market. The key strategy for fueling even more
aggressive growth in India is to accelerate product developments and business
promotion in order to meet the local needs.  
Addressing the media, Mr. Kazuhiro Tsuga, President and Member of the Board of
Directors, Panasonic Corporation said, “Always making "people" central to our
activities, and thereby focusing on "people's lives," we will continue to
provide better living for our customers. This is the unchanging commitment we at
Panasonic have had over many years and we are aiming to pursue the concept of "A
Better Life a Better World," meeting the needs of each individual customer. We
will leverage the strengths that we at Panasonic have long developed, and the
strengths of our business partners who have in-depth expertise in each space,
and will work to combine these strengths to create new value. As we continue to
carry out these activities, we will make a robust recovery as a unique company,
a company unlike any other in the world.” 
Talking about India he added, “I am highly inspired by India's vibrant energy
and high market potential. As people here are truly committed to the Panasonic
business– this has cascaded in our commitment and focus for the region. India
is a high growth market for us globally; hence we are planning investment in
this region on products, talent, marketing and manufacturing. There will be a
sound focus on local manufacturing and expansion of production processes and the
company will continue focusing on developing India-specific product innovations
as well as Eco and Smart Solutions catering to domestic needs. Despite the
consumer durables segment being challenging, Panasonic has successfully made
inroads into household in India and with the implementation of the new
management plan, we are sure that Panasonic will evenly grow in the enterprise
segment as well”. 
Pursuing the localization strategy in India, the company believes that business
growth, modification of business, people, products and content should satisfy
both the language and cultural differences of the targeted market. While working
on providing localized products, there is a huge emphasis on local manufacturing
going forward to meet up with the competitive Indian market. The philosophy has
been to not simply import products from other countries, but should be specially
customized for the Indian consumers keeping the local needs and conditions in
mind and this has been the purpose of building the Technopark factory in Jhajjar
to create products specific to the Indian market. It is this pillar of
Localization that the company has done consistently well in the consumer
electronics and home appliances segments.  
With the government proactive to develop a framework to bring major
transformation in the ecosystem to promote local manufacturing, Panasonic is
keen to work together with other Indian companies with the aim to fuel the
growth process. This coupled with the intent of bringing in Japanese expertise
of product development and research is one of the reasons that during his three
day visit, Mr. Tsuga also met business heads of Indian conglomerates like The
Tata Group and Reliance Industries Limited.  
Panasonic India President Mr. Daizo Ito's vision entails making Panasonic, an
Indian company in India and under his aegis and guidance to drive empowerment
through localization of Panasonic India's leadership, for the first time ever
the company recently appointed an Indian to lead its consumer durables as well
as enterprise business in the country- Mr. Manish Sharma, erstwhile Managing
Director of the Consumer Product Division of Panasonic India. This appointment
is thus a part of the strategy of localization & empowerment making India a
global talent hub whereby some potential executives can take up global
leadership roles. 
Panasonic in India is tuning itself to this global announcement so as to deliver
on the mandate. Having done extremely well in the consumer business, and keeping
in line with the new global business plan, Panasonic India now has a renewed
focus on the B2B and B2G business. It is aiming of doubling the contribution of
B2B segment to Panasonic's overall revenue by 2015 and will be introducing new
product ranges in this segment mainly in the Energy Solutions (products for
creating, storing and saving energy), security and surveillance systems and
solutions products and will also be looking at collaborating with Indian
enterprises for the same. The company is all geared up to soon enter the IT
products segment considering the existing demand and requirement across the
diverse population in India. 
About Panasonic  
Panasonic Corporation is a worldwide leader in the development and engineering
of electronic technologies and solutions for customers in residential,
non-residential, mobility and personal applications. Since its founding in 1918,
the company has expanded globally and now operates over 500 consolidated
companies worldwide, recording consolidated net sales of 7.85 trillion yen for
the year ended March 31, 2012. Committed to pursuing new value through
innovation across divisional lines, the company strives to create a better life
and a better world for its customers. For more information about Panasonic,
please visit the company's website at http://panasonic.net/. 
About Panasonic India 
Panasonic makes available in India its wide range of consumer electronics, home
appliances like LCD & Plasma TVs, DVD players, home theatre systems, cameras,
camcorders, car audio systems, air conditioners, washing machines,
refrigerators, microwave ovens, automatic cookers, vacuum cleaners and a wide
range of system products including communication ones like Phones, High
Definition Videoconferencing, Professional Audio Video products like broadcast
cameras, Projectors and Displays, Business Solutions including Printers,
Whiteboards and Security solutions. The company currently has a workforce of
about 12,500 in India. For more information on the company and the Panasonic
brand in India, please visit http://panasonic.co.in.  
To view the photograph, please click on the link given below: 
Mr. Kazuhiro Tsuga, President, Panasonic Corporation 
Media contact details 
Richa Sethi,
Panasonic India,
+91 9560498765,
richa.sethi@in.panasonic.com 
Malvika Sinha,
Genesis Burson-Marsteller,
+91 9873382955,
malvika.sinha@bm.com 
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-0- Apr/30/2013 12:09 GMT
 
 
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