(Tokyo General Electric) Matsushita Electric Industrial Co. is reviewing the profitability of 170 factories around the world and decide which factory to close. Panasonic's overseas factories are mainly located in Southeast Asian countries such as Malaysia and Thailand.
This is part of the company's plan to double its profits in five years. The company plans to increase the operating rate from the estimated 5% of the current fiscal year ending in March to 10% in fiscal year 2010.
Matsushita Electric Industrial spokesman Menda said yesterday that the company is studying the sales and gross margin of global factories, and then decides which ones will be closed or merged. He denied that the Nikkei News report that Matsushita Electric Co., Ltd. will close half of its overseas factories, saying that the company has not yet Set the target.
He said: "Under the leadership of our new president, we introduce the company's standards in order to more strictly monitor the profitability of overseas business. The result may be that the number of our overseas factories will decrease, but the number of halving in five years is not ours. The goal."
In April, Daping Wenxiong, the president of Matsushita Electric Co., was trying to increase the contribution of overseas profits to the company by two times to 60% through Viera Plasma TV and Lumix digital cameras.
Menda said that Matsushita Electric has set up points in 57 countries including Japan, and usually relies on various operating subsidiaries to make their own overseas business decisions, making it difficult for Panasonic to integrate manufacturing bases.
According to the new regulations, Matsushita Electric will consider whether the sales of overseas factories have declined for three consecutive years, whether the interest rate has been below 3% for three consecutive years or a net outflow of cash for three consecutive years. In addition, it will pay attention to the operating profit of the factory minus the cost of capital. The situation, and whether it can recover the investment within 8 years.
If the factory meets at least two of these standards, Matsushita Electric will consider closing or merging the plant.
In the last fiscal year ending March, Matsushita Electric's operating profit from Japan was 374 billion yen (S$5,516 million), from the US to 16.8 billion yen, and from Europe to 4.5 billion yen, Asia and Other places are 81.4 billion yen.
The authenticity of this information has not been confirmed by the international electrical network, for your reference only.
This is part of the company's plan to double its profits in five years. The company plans to increase the operating rate from the estimated 5% of the current fiscal year ending in March to 10% in fiscal year 2010.
Matsushita Electric Industrial spokesman Menda said yesterday that the company is studying the sales and gross margin of global factories, and then decides which ones will be closed or merged. He denied that the Nikkei News report that Matsushita Electric Co., Ltd. will close half of its overseas factories, saying that the company has not yet Set the target.
He said: "Under the leadership of our new president, we introduce the company's standards in order to more strictly monitor the profitability of overseas business. The result may be that the number of our overseas factories will decrease, but the number of halving in five years is not ours. The goal."
In April, Daping Wenxiong, the president of Matsushita Electric Co., was trying to increase the contribution of overseas profits to the company by two times to 60% through Viera Plasma TV and Lumix digital cameras.
Menda said that Matsushita Electric has set up points in 57 countries including Japan, and usually relies on various operating subsidiaries to make their own overseas business decisions, making it difficult for Panasonic to integrate manufacturing bases.
According to the new regulations, Matsushita Electric will consider whether the sales of overseas factories have declined for three consecutive years, whether the interest rate has been below 3% for three consecutive years or a net outflow of cash for three consecutive years. In addition, it will pay attention to the operating profit of the factory minus the cost of capital. The situation, and whether it can recover the investment within 8 years.
If the factory meets at least two of these standards, Matsushita Electric will consider closing or merging the plant.
In the last fiscal year ending March, Matsushita Electric's operating profit from Japan was 374 billion yen (S$5,516 million), from the US to 16.8 billion yen, and from Europe to 4.5 billion yen, Asia and Other places are 81.4 billion yen.
The authenticity of this information has not been confirmed by the international electrical network, for your reference only.
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