Panasonic, a sprawling 104-year-old Japanese company that used to top global consumer electronics sales, is seeking new avenues for growth. The company’s previous Chief Executive Officer Kazuhiro Tsuga spent close to nine years shedding struggling businesses, such as plasma TVs, before handing the reins to Yuki Kusumi a year ago.
Kusumi, head of a leaner company that’s no longer bleeding red ink, is now faced with the challenge of steering Panasonic onto a path of sustained growth. He spent the past year shaping it into a holding company, which the CEO says will make it easier to decide where to invest for long-term growth.
When looking to define areas of growth, Panasonic “considered what society will look like in 2030 and back-cast from there,” Kusumi said in a briefing.
One of those areas of growth is Panasonic’s business supplying batteries for EVs. The…
Panasonic to spend $5 billion on EV batteries, software
