We visited Panasonic Semiconductor and had a productive meeting. Like most companies in this current climate they are facing many challenges. Panasonic just posted their latest figures, and revenue is down 5% and profit down 25%, however they are still making 350 billion JPY pre tax profit (an enviable number most companies would be happy to report).The biggest pressure is coming from the competitive price reductions in their digital TV business, great news for any consumers wishing to purchase a new TV for the upcoming Christmas season, but major financial pain for Panasonic.
In a recent survey of 'cash rich companies' published in Japan - Panasonic were listed in 7th place, (number 1 was Toyota), and they are taking advantage of the tough global conditions to invest some of that cash to build for the future (with acquisitions such as Sanyo). Oversea's technology companies wishing to sell technologies to Panasonic should not forget this opportunity.
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