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Friday, March 29, 2024

Panasonic expects revenue to hit P12b

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Panasonic Philippines Manufacturing Corp. said Wednesday it expects revenue to reach P12 billion in its next fiscal year, starting April 2017 to March 2018, as it shifts marketing strategy to rolling out more energy-efficient consumer durable goods.

PPMC president Shinichi Hayashi said the company was moving aggressively to capture a bigger market share with plans to unveil more models within the current product range using inverter technology.

“Our sales in fiscal year ending March 2017 was record high with about P10-billion revenue from sales. In the next fiscal year, wherein the company will be celebrating its 50th anniversary in the Philippines, we will introduce inverter-technology products from entry to mid-level  models,” he said.

Panasonic’s 50th year.  Panasonic Manufacturing Philippines Corp. is marking its 50th year with targets and offerings that aim to surpass previous milestones.  Shown during a news briefing and 50th anniversary celebration at Makati Shangri-La Hotel in Makati City are (from left) Panasonic Appliance Marketing Asia Pacific managing director Yuji Majima, Panasonic Manufacturing Philippines Corp. president Shinichi Hayashi and Panasonic Manufacturing Corp. vice president Masaru Toyota. Manny Palmero

Hayashi said most durable goods companies in the Philippines were selling products using inverter technology for the high-end market segment only.

Panasonic will bring in Japan’s inverter technology to power locally-manufactured goods running on motors such as washing machine, refrigerators and air-conditioners.

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PPMC exports window-type air-conditioners and mid-level refrigerators to Hong Kong. Exports account for 20 percent of the company’s total annual sales.

The company maintains and operates manufacturing plants in Taytay, Rizal, where it produces export-quality refrigerators, washing machines, air-conditioners and electric fans.

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