Asia
Panasonic Shares Jump Most in 11 Years on Restructuring Plans
- Century-old company’s low-margin TV operations under review
- Electronics maker seeks growth in datacenter-related areas
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Shares of Panasonic Holdings Corp. soared 15% on its plans to overhaul personnel and trim underperforming businesses, part of a shift into high-margin areas like powering AI data centers.
The Osaka-based company, whose sprawling operations include hairdryers, PCs and lithium-ion batteries used by the likes of Tesla Inc., will restructure low-growth businesses and make changes to its employment structure, according to a statement released Tuesday.