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Panasonic focuses on batteries, other 'growth areas' in shake-up

Japanese maker eyes $4.9bn investment in shift to holding-company model

Panasonic formally adopted a holding-company model on April 1. (Photo by Yo Inoue)

TOKYO -- Panasonic promised on Friday significant new investments in automotive batteries, hydrogen energy and software as the Japanese electronics maker sets out a strategy to sharpen its focus and improve profitability.

The Osaka-based company will invest 600 billion yen ($4.9 billion) in the next three years, it said. Of the total, 400 billion yen will be earmarked for "growth areas" such as automotive batteries, supply chain software and air-conditioning, while 200 billion yen will be poured into new technologies like hydrogen energy and workplace digitization.

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