OSAKA — Matsushita Electric Industrial Co. on Friday unveiled a major reorganization aimed at streamlining sales, distribution and other related operations for consumer and household markets in Japan.
In order to restructure its consumer sales operations, the leading electronics maker said it will create three new marketing divisions Sunday.
“This reorganization is intended to concentrate all marketing authority, responsibility and management resources into the new divisions,” it said.
The reform is intended to enable the company to respond swiftly to market changes and enhance the strength of the Panasonic and National brand names, Matsushita said, adding it will bring in some 30 billion yen in cost savings in the consumer sales divisions.
Matsushita also plans to reorganize its consumer products distribution and other related subsidiaries in an effort to realize a leaner and more efficient sales and distribution structure.
The company expects to achieve a cost reduction of approximately 55 billion yen through this reorganization of its subsidiaries, it said.
Under the reorganization plan, Matsushita will form a new holding company — Matsushita Consumer Electronics Holding Co.
Some 22 of its 28 regional sales firms will become subsidiaries of the new company, and these 22 firms will then be consolidated into a single company in October.
Other subsidiaries will also be consolidated in October. Matsushita Credit Co. and Matsushita Leasing Co. will be combined, while Matsushita Logistics Management Co. and Matsushita Logistics Services Co. will also be merged, the company said.
NEC to launch new unitJiji Press NEC Corp. said Friday it will set up a new subsidiary Monday in an effort to improve the management of its production system involving parts procurement, design and distribution.
The subsidiary, which will be called NEC Production Systems Ltd., will be capitalized at 10 million yen, with the capital being provided entirely by NEC.
NEC Production Systems will formulate proposals for the management of production costs and inventories for NEC plants. It expects to generate sales of 1 billion yen in fiscal 2003.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.