Panasonic Says It Will Continue To Attach Great Importance To The Chinese Market

Published: May 30, 2023 15:02

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Panasonic Chief Executive Yuki Kusumi said that China remains a highly valued market for the company, although geopolitics has made it more necessary to build strong supply chains in other regions.

Panasonic Chief Executive Yuki Kusumi said that China remains a highly valued market for the company, although geopolitics has made it more necessary to build strong supply chains in other regions. "We will continue to develop our business in China as before," Yuki Kusumi said in an interview in Tokyo on May 24, adding that "there is no doubt" that China is a high priority market.

In the fiscal year ending March this year, Panasonic's sales in China were 964.7 billion yen (about 48.88 billion yuan), accounting for about 11.5% of Panasonic's total sales.

Japanese automakers are also interested in Panasonic’s cylindrical cells, Kusumi said, adding that in some cases the Osaka-based company may handle business for them. However, Kusumi did not specify which automakers.

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