Closed two Japanese lighting factories Panasonic to start a new round of restructuring

According to Japanese media reports, Matsushita is currently undergoing a second round of restructuring, and plans to close two lighting manufacturing plants in Japan by the end of September this year.

In FY14, Panasonic completed the restructuring of its digital, television and semiconductor businesses. Next, Panasonic will focus on transforming six low-yield businesses, such as lighting and batteries.

The two plants under the Panasonic Lighting Systems subsidiary are located in Osaka and Tokyo, and approximately 250 employees will be transported to other plants. After the two plants are closed, production will be transferred to the nearby Iga and Danbo factories. Matsushita will invest 1 billion yen ($8.18 million) in automated production at the Iga Plant and the Danbo Plant. Panasonic plans to increase the capacity of the two plants by 30%, thereby increasing the overall capacity of Panasonic's lighting equipment.

Panasonic Iga City Lighting Factory

The Osaka lighting equipment factory was built in 1967, and the Tokyo plant was built in 1990. The two factories mainly produce LED lighting equipment, but the aging of the factory leads to inefficient production. Panasonic plans to sell the two plants, reducing the number of its domestic plants to 10.

Although Panasonic's lighting business has the largest market share in Japan, lighting equipment manufacturers in developing countries produce lower prices and dilute Panasonic's profit margins. In fiscal 2014, Panasonic's lighting business achieved sales of 317.7 billion yen, but its operating margin was only 4.7%, lower than Panasonic's target of 5%, so the lighting business became the target of restructuring. Matsushita expects that its lighting business will achieve sales of 342 billion yen in FY2015 and an operating profit margin of 6.1%.

Panasonic also decided to close its LED lighting equipment factory in Indonesia by the end of October this year. All future lighting products sold in Japan will be produced domestically. Panasonic’s reforms to this business include effective R&D expenses and a shift to high-profit areas.

“In the last fiscal year, we completed structural reforms,” said Matsushita’s president, He Heyihong. “To focus on these six businesses, our goal is to make sales growth drive profit.”

Although Panasonic has taken rapid restructuring measures, such as shutting down the lithium battery factory in Beijing, new problems are emerging, and one of its air purifier sales in China is one of them.

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