OSAKA -- Panasonic will invest 100 billion yen ($867 million) in the air conditioning business over five years, looking to capitalize on growing interest in AC systems fueled by the coronavirus pandemic.
"We will work toward entering the top global class," Masaharu Michiura, president of Panasonic's unit covering heating, ventilation and air conditioning (HVAC) systems, told reporters Monday. The group previously devoted an estimated 10 billion yen per year to the segment.
