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Japan-Update

Panasonic to double Chinese appliance sales by fiscal 2020

Broadening customer base key to the goal for fiscal 2020

Panasonic features a few hundred items at the Appliance & Electronics World Expo in Shanghai, including white goods and a smart toilet seat.

SHANGHAI -- Panasonic will work toward increasing its sales of consumer electronics in China by 100% to around 20 billion yuan ($3.15 billion) in fiscal 2020 by reaching more of the middle class with an improved lineup of home equipment such as high-tech toilet seats and beauty appliances.

Wu Liang, managing director of Panasonic Appliances (China), revealed the goal Thursday at the Appliance & Electronics World Expo here. Sales for the current year ending in March are expected to rise 17% to around 10.5 billion yuan. The plan is to capture brisk demand for home-related spending among China's middle class by broadening the main target customers from families earning 320,000 yuan or more to those with an annual income of 250,000 yuan or higher.

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