Panasonic has been steadily carrying out organizational reforms and revising its air conditioner strategy since it established the new Air-Conditioner Company within the Appliances Company in April. Panasonic has announced its target of Yen 700 billion (about US$ 5.8 billion) in sales in its air conditioner business in fiscal 2018 (end March 2019), a 52% increase over sales in fi scal 2014. To expand sales overseas, it plans to further augment its product portfolio utilizing advanced technologies and secure sales channels – potentially through M&A – with the determined aim
of becoming the top player in the industry. Within its air conditioner business, Panasonic is strongest in the small-capacity room air conditioner (RAC) segment, and it plans to grow RAC sales by 40% in fiscal 2018 over fiscal 2014. In addition to RACs, the key to achieving its sales target is expanding sales of large-capacity air conditioners for commercial use. In this segment, it is aiming to double sales in fiscal 2018 over fiscal 2014. After making Sanyo its subsidiary in 2011, Panasonic received Sanyo’s large-capacity air conditioner technology to augment its expertise in gas heat pumps (GHPs), absorption chillers, and variable refrigerant fl ow (VRF) systems. In overseas markets, it positions China and Southeast Asia as priority markets and is adding to its product portfolio concentrating on high-end products. (Source: JARN, June 25, 2015)