In announcing a disappointing set of full-year financial results, president Fumio Ohtsubo spelled out a three-year business plan titled Green Transformation 2012, meant to counter Panasonic’s ongoing loss of market share to cheaper Korean rivals Samsung and LG.
In December Panasonic linked its future inextricably to renewable energy, sinking ¥403.8bn ($4.33bn) for a majority stake in smaller Japanese competitor Sanyo.
Sanyo has lost money in five of the last six years, but has a sizeable footprint in the solar sector and has established a position as the global market leader in rechargeable lithium-ion batteries.
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