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May 31, 2010
Panasonic Combines its Strengths for a Full-Scale Entry into Solar Power Generation Business
Osaka, Japan - The Panasonic Group will launch on July 1, 2010 its HIT® 215 Series* household solar power generation systems, the first series of collaborative products to be developed since SANYO became a part of the Group. The launch signifies how the newly extended group has combined its collective strengths for a full-scale entry into the solar cell business.
Since the announcement of the capital and business partnership with SANYO in December 2008, Panasonic has established a Collaboration Committee and promoted discussions, under all applicable laws and regulations, to maximize the potential synergy effects within the new Panasonic Group. Following the subsequent formalization of this takeover on December 21, 2009, 27 different sub-working groups have engaged in more advanced discussions, and the HIT 215 Series household solar power generation systems, featuring HIT 215 solar power generation modules with the world's highest-level energy conversion efficiency, represent the first tangible fruit of these collaborative efforts.
The new products combine SANYO's solar power generation modules with Panasonic's energy management technology, construction materials, and electrical technology, and will be broadly promoted across the companies' various sales routes, including home appliances, electrical and construction products. In doing so, the Panasonic Group is seeking to maximize its combined strengths to achieve significant business expansion within the rapidly growing solar power generation market, and aims to establish a position as the top manufacturer in the market with a target share in Japan of at least 35% by 2012.
The Panasonic Group is currently working to boost its product strengths in devices that create energy, store energy, and save energy; its ability to offer value by linking these devices together as systems; and its capacity to sell these products and systems across the globe. Such initiatives are designed to accelerate the growth of its energy systems business as a flagship business for the entire company.
In order to realize its vision of becoming "the No. 1 Green Innovation Company in the Electronics Industry" in time for the 100th anniversary of its foundation in 2018, the entire Panasonic Group is working together to integrate environmental contribution with business growth. By promoting a paradigm shift toward growth and laying the foundations of a Green Innovation Company, the company aims to become a Panasonic filled with significant growth potential.
*HIT® is a register trademark and an original technology of SANYO Electric Co., Ltd.
Panasonic Corporation is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of 7.42 trillion yen (US$79.4 billion) for the year ended March 31, 2010. The company's shares are listed on the Tokyo, Osaka, Nagoya and New York (NYSE: PC) stock exchanges. For more information on the company and the Panasonic brand, visit the company's website at http://panasonic.net.
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