Panasonic Corporation announced that its Board of Directors has decided that Panasonic will transfer the rights and obligations with respect to the business of its internal division System Solutions Company (System Company), to Panasonic Communications (PCC), its wholly-owned subsidiary, through a business division. System Company manages Panasonic's electronic security division.
Panasonic aims to strengthen the system networking business by integrating the system business and the fixed-line communications business toward the global growth of B-to-B system business. The visual and communications businesses have been integrating under the further progress of IP networks.
1. Purpose of Business Reorganization and Integration
System Company has an edge in the visual business while PCC has an advantage in the communication business. In response to a shift from analog to digital, Panasonic will reorganize and integrate System Company and PCC to promote effective operation of management resources and management structure improvement. Panasonic will accelerate a new phase of the solution business which unifies sound, image, visual and data in IP networks, and enhance profitability and expand global business mainly in emerging countries.
2. Details of Business Division
Panasonic transferred the rights and obligations with respect to the business of System Company to PCC through business division as of Jan. 1, 2010. PCC will change its trade name to Panasonic System Networks Co., Ltd.