Asia Matsushita Electric (S) Pte Ltd. said Thursday it will take over the Asia-Oceania headquarters role from its Japanese parent Matsushita Electric Industrial Co. in Osaka Prefecture, while changing its name to Matsushita Electric Asia Pte. Ltd.
The changes take effect Sunday, said the wholly-owned Singapore subsidiary of the electronics giant. The 707-strong subsidiary will assume the new role to enable the Matsushita group to make business strategy decisions "faster and more effective" with an eye to responding to changes in the business environment and to enhancing its competitive edge, it said in a statement.
The Corporate Management Division for Asia and Oceania at the parent company is currently in charge of supervising and managing the group's operations in the region.