Panasonic will shut the unit that makes the camera

Panasonic unveiled a restructuring plan aimed at reducing the six loss-making activities.

In particular, it is planned to close one of the lines to produce LCD panels, located in Japan. The equipment will be sold.

The conversion will also affect units that produce solar panels for residential homes and semiconductor chips. Regarding the latter, it can be transferred into a joint venture with the participation of the Israeli company.

Three additional units, including units that produce cameras and optical disc drives, will be closed. Ceased to exist as a separate entity, they are part of other, larger ones. The scale of operations and number of employees will be reduced.

According to preliminary estimates, all of these types of activities in the current fiscal year ending March 31, will bring the company approximately 3.42 billion dollars in revenue, but net profit is expected loss of $ 0.4 billion.

Source: Nikkei

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