• Bloomberg


Panasonic Corp. Chief Executive Officer Kazuhiro Tsuga says he is getting serious about profits.

Businesses that chronically lose money and operations that have little prospect of healthy profits will have to go, Tsuga said at a briefing in Tokyo on Friday, declining to name specific divisions. The company will end production of some products — the withdrawal from making liquid crystal displays had already been announced Thursday — and other units could be combined. Panasonic also plans a wave of consolidations in far-flung bases from Latin America to Europe and Japan.

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