Panasonic on Tuesday laid out its business strategy for fiscal 2017, seeking to return to a growth track by shoring up its home appliance and solutions businesses while pumping cash into high-potential automotive parts.
The electronics maker expects operating profit in its solutions unit, which sells industrial machinery, broadcast equipment and in-flight entertainment systems, to rise 36.9 percent year-on-year to ¥69 billion ($620 million) in the business year ending next March, company officials said in a briefing to analysts in Tokyo.
Panasonic expects operating profit in its consumer electronics and home appliance unit to rise 12.3 percent to ¥112 billion as sales in products including refrigerators and washing machines grow in Asian markets such as India, in particular high-end models geared toward wealthier consumers.