Panasonic Corp. will increase the amount of parts bought outside Japan this year to help cut procurement costs by ¥500 billion, according to a senior company official.
The company will acquire about 57 percent of its parts and materials abroad in the fiscal year to next March, up from 43 percent two years ago, Masaaki Fujita, who oversees Panasonic's procurement and distribution operations, said Wednesday in Osaka. The overseas ratio will probably continue increasing as the company intends to expand purchases in Asia, he told reporters.
Panasonic is also moving the headquarters of its $57 billion procurement operation from Osaka to Singapore in the fiscal year starting next April, Fujita said.