PANASONIC CORPORATION OF NORTH AMERICA

Panasonic Corporation of North America's (PNA) products run the gamut of cool: from ultra HD TVs, to hip wearable digital cameras, and household air conditioners. The company oversees the North American operations of Japan's Panasonic Corporation, one of the world's leading electronics firms. PNA makes and sells consumer products (home appliances, camcorders, DVDs, VCRs, men's shavers), business products (copiers, fax machines, printers), and industrial electronics products (computer components, semiconductors, appliance motors) under the Panasonic, Technics, and Quasar brands. The company, its Japanese parent's principal subsidiary in North America, is also the largest maker of plasma TV sets.

Geographic Reach

Newark, New Jersey-based Panasonic Corporation of North America operates throughout the US, Canada, and Mexico. It has a call center in Chesapeake, Virginia.

Operations

PNA's operations include R&D Centers, customer call centers, and sales and service networks. Its research facilities include the Panasonic Hollywood Laboratory, which developed Blu-ray technologies in collaboration with movie studios. PNA's Eco Solutions North America unit partnered with Lighthouse Technologies Limited in 2012 to allow PNA to provide a streamlined, single source of LED video display devices as the sole distributor of the technology in the US and Canada.

Financial Performance

While Panasonic Corp. doesn't break out sales for its PNA subsidiary, it reported that sales in North and South America accounted for 14% of its total sales in fiscal 2013 (ended March), and 29% of its total overseas sales.

Strategy

Panasonic and PNA are looking to put some distance between themselves and the worldwide financial crisis, which spelled trouble as consumer demand for their products plunged and price competition increased. Despite declining revenues in 2009 and 2008 -- and plummeting profits in 2009 -- the electronics giant continued to invest substantial sums in R&D to bring future generations of products to market. Indeed, innovation and "early-to-market" are key aspects of Panasonic's revenue growth strategy. In 2012 the company formed two new business units: Panasonic Eco Solutions North America, focused on the design and implementation of renewable energy and energy efficiency projects in the US and Canada; and Panasonic Healthcare Company of North America, formed to develop products for the fast-growing health care and life sciences markets.

Priorities for PNA under chairman and CEO Joseph Taylor include establishing the company as the leader in the nascent 3D TV market, where it competes with LGSony, and Samsung, among others. Taylor is the first American to lead PNA. The selection of an American to run the company is seen as a sign that Panasonic wants its US arm to exercise more autonomy.

Company Background

Established in New York City in 1959, Panasonic Corporation of North America was known as Matsushita Electric Corporation of America until 2005 when its company name was changed to strengthen its connection to the bran.

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PANASONIC CORPORATION OF NORTH AMERICA


2 Riverfront Plz
Newark, NJ 07102-5490
Phone: 1 (201) 348-7000
www.panasonic.com

STATS


  • Employer Type: Subsidiary
  • CFO: Michael Riccio
  • CTO: Todd Rytting
  • Chairman, Chief Executive Officer: Joseph Taylor

Major Office Locations

  • Newark, NJ

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