Matsushita Electric Announces Plans to Boost Components Business
Two group companies of Matsushita Electric Industrial Co. Ltd. (Tokyo, Japan) announced plans to boost their capital spending on electronic components in a bid to lift the firm's global market share.
Wholly-owned subsidiary Matsushita Electronic Components Co. Ltd. said it plans to spend 215.0 billion yen (US$1.85 billion) in the three years to the 2003-2004 business year, up 37 percent from 157.0 billion yen in the previous three years. Separately, Matsushita Battery Industrial Co. Ltd. said it would invest about 10.0 billion yen to build a manufacturing facility to boost production of lithium-ion batteries at its Osaka plant in western Japan.
"We aim to raise our global market share to 8.5 percent by boosting our output to 750.0 billion yen by the end of 2003-2004, against the current 7.5 percent," said Koshi Kitadai, president of Matsushita Electronic Components. "Our goal is to grab a 10-percent share some time before 2010."