Embattled electronics giant Panasonic Corp. vowed Thursday to slash its losses in five business sectors, including televisions and semiconductors, by ¥130 billion over the next three years.
The Osaka-based maker also aims to boost its operating profit to more than ¥350 billion for the business year to March 2016 from ¥140 billion estimated for the year that ends Sunday. It will also gear up growth-making businesses related to the automobile and housing industries.
"Above all, what I have to do during the term is pull our business out of the red as soon as possible," President Kazuhiro Tsuga told reporters in Tokyo to announce the firm's new three-year business plan starting April 1.