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Electronics

Panasonic accelerates shift to corporate business solutions

Osaka-based company expects 27% profit rise despite chip shortages, pandemic

Under previous CEO Kazuhiro Tsuga, Panasonic focused on restructuring after reporting losses in excess of $7 billion for two years straight in fiscal 2011 and 2012. (Photo by Takaki Kashiwabara)

TOKYO -- Panasonic expects net profit to increase 27% in the current business year, ending March 2022, as the 103-year-old electronics company aims to put years of restructuring behind it and go on the offensive by focusing on business customers.

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