Matsushita (Panasonic) Establishes New Automotive Electronics Business Company in Thailand to Cover the Asian Market
<http://www.japancorp.net/?page_num=1> JapanCorp: Matsushita (Panasonic) Establishes New Automotive Electronics Business Company in Thailand to Cover the Asian Market Tokyo, Japan, Nov. 28, 2006 - (JCN Newswire) - Panasonic Automotive Systems Company (PAS), a division company of Matsushita Electric Industrial Co., Ltd., best known for its Panasonic brand, today announced it will establish Panasonic Automotive Systems Asia Pacific (Thailand) Co., Ltd. (PASAP) on December 1, 2006 in the Kingdom of Thailand. The new company assumes a sales role and will cover fast-growing Asian markets including India, Thailand, Indonesia, Malaysia, the Philippines and Vietnam. With the establishment of a new technology development department, the company will also formulate a product development system aimed at meeting the needs of local consumers. "The establishment of the new company as a hub for development, manufacture, and sales in the Asian region will lead to stronger cooperation among the PAS companies, realize global business opportunities and optimize Panasonic's product development and production system,*1" said Toru Nishida, the newly appointed Managing Director of Panasonic Automotive Systems Asia Pacific (Thailand) Co., Ltd. In the first half of 2006, the automobile-related export value in Thailand reached 500 billion JPY. This figure is estimated to reach 1 trillion JPY by the end of the year. Thailand has become the fourth largest exporting country in the Asian market for completed vehicles and components following Japan, Korea and China. Within the region which PASAP will cover, automobile manufacturers project a growth in production and exports from 3.5 million vehicles produced in the 2005 fiscal year (ending March 2006) to an estimated figure of over 6 million vehicles in fiscal 2010 (ending March 2011). This means an average growth rate of 110%.*2 Since the establishment of PAS in January 2003, the company has established globally: Panasonic AS America (North America) in April 2003; Panasonic AS Europe GmbH (Europe) in April 2004; and Panasonic AS China (China) in April 2005, each with its multi-disciplinary approach to sales, manufacture and development. With the new company now also covering the Asian market, PAS aims to build what will be known as the "Global Five-Base (Japan, Americas, Europe, China, and Asia) Supplemental Network." The network will accelerate PAS's growth strategy by enhancing global co-operation of all five of its automotive electronics business across the world. *1 Optimization of development/manufacture/sales by cooperation from PAS companies on a global basis, such as accepting product orders from an American car manufacturer, designing and developing in Japan, then producing in China. *2 Figures are based on an independent survey by Panasonic Automotive Systems and conducted in Thailand, Indonesia, Malaysia, the Philippines and India. About Matsushita Electric Industrial Co., Ltd. Best known by its Panasonic brand name, Matsushita Electric Industrial Co., Ltd. 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 US$76.02 billion for the year ended March 31, 2006. The Company's shares are listed on the Tokyo, Osaka, Nagoya and New York stock exchanges. For more information on the company and the Panasonic brand, visit the Company's website at http://panasonic.net/. For further information, please visit the Matsushita Electric Industrial Co., Ltd. home page at: www.panasonic.co.jp/global/top.html <http://www.panasonic.co.jp/global/top.html> Contact Akira Kadota, International PR Tel: 03-3578-1237 Fax: 03-3436-6766 Panasonic News Bureau Tel: 03-3542-6205 Fax: 03-3542-9018 _____ Nov. 28, 2006, 15:05 (JST) Source: Matsushita Electric Industrial Co., Ltd. Matsushita Electric Industrial Co., Ltd. (U.S.: MC) www.panasonic.co.jp/global/top.html <http://www.panasonic.co.jp/global/top.html> From the Japan Corporate News Network View <http://www.japancorp.net/company_show.asp?compid=204> Matsushita Electric Industrial Co., Ltd. 's Company Profile On JCN Network www.japancorp.net <http://www.japancorp.net> Topic: Press release summary Sectors: Electronics, Auto Copyright © 2006 JCN Network <http://www.japancorp.net> . A division of Japan Corporate News Network KK. All rights reserved. If you believe you have received this news in error or would like to be removed from our mailing list please respond here <https://www.japancorp.net/unsubscribe.asp> (https://www.japancorp.net/unsubscribe.asp) and you will be removed from our mailing list. If you have difficulty viewing our News Alerts in HTML format you can change your settings here <https://www.japancorp.net/changeregister.asp> (https://www.japancorp.net/changeregister.asp).