Panasonic bringing back division setup

Kyodo

Panasonic Corp. will reintroduce a divisional system April 1 under which development, production and sales of each product will be managed in an integrated manner, company officials said Tuesday.

The system was replaced in the early 2000s with a setup under which operations, including development and production, were controlled based on function.

The reintroduction comes as the struggling Japanese electronics maker aims to streamline its business and review its earnings structure.

Panasonic is expected to post a group net loss of ¥765 billion in the current business year ending in March due to uncertain prospects amid slumping sales of its digital appliances.