Company that found a chance with the recent Japanese disasters...

  One company that found light in the latest devastating disasters in Japan was Panasonic. Panasonic Corporation, formerly known as Matsushita Electric Industrial Co., Ltd, is an electronics manufacturing giant and have branches worldwide. Since its establishment in 1918, its growth was tremendous and now the company has become the largest Japanese electronics producer. It is ranked within 20 in the global semiconductors producing and sales. It holds the biggest share of the worldwide market for lithium-ion batteries. Some of other subsidiaries of Panasonic Corp. are Panasonic Avionics Corporation, Panasonics Mobile Communications, Panasonic Electric Works Vossloh-Schwabe Serbia d.o.o, etc.

  The recent disasters in the North-Eastern coast of Japan had cost the nation dearly. Tsunami waves destroyed, along with other constructions, main energy sources of the country including the most important nuclear reactors like Dai-ichi and Hamaoka reactors. Japan felt this as a major blow because, the latest Japanese long term energy policy aims at increasing the energy dependency on nuclear sources by 30 to 50 percent. This created a historic energy crisis and its  aftermath is that, Japanese government has asked the industries to cut down power by around 15 percent.

   The setback for Panasonic Corp. due to the unexpected catastrophe was the shortage of components available for manufacturing. Reduced power availability was the reason behind. The losses were mounting and this forced the company to sack around 17,000 employers as a part of restructuring. To handle the situation Panasonic Corp. started streamlining its operations and sold some of its low level businesses.

 Eventhough Panasonic Corp. faced a tough time with the unfortunate energy crunch, luckily, the company had started researches on environmentally friendly products and renewable energy technologies only a few months before the tragedy. And eventually, it fixed its goal as to become the No.1 green innovation company in the electronic industry. Panasonic Corp. president said “In the mid- to long-term, there are big overlaps between Japan's recovery vision and Panasonic's concept” which indicates the company is looking forward the success of its innovation as it shall fits into the voids present in the current industrial snapshot of the country. Many new eco-friendly electronic products are to be out in the market in the near future whose details are kept in suspense by the Corporation.