Panasonic Philippines Manufacturing Corp. said Wednesday it expects revenue to reach P12 billion in its next fiscal year, starting April 2017 to March 2018, as it shifts marketing strategy to rolling out more energy-efficient consumer durable goods.
PPMC president Shinichi Hayashi said the company was moving aggressively to capture a bigger market share with plans to unveil more models within the current product range using inverter technology.
“Our sales in fiscal year ending March 2017 was record high with about P10-billion revenue from sales. In the next fiscal year, wherein the company will be celebrating its 50th anniversary in the Philippines, we will introduce inverter-technology products from entry to mid-level models,” he said.
Hayashi said most durable goods companies in the Philippines were selling products using inverter technology for the high-end market segment only.
Panasonic will bring in Japan’s inverter technology to power locally-manufactured goods running on motors such as washing machine, refrigerators and air-conditioners.
PPMC exports window-type air-conditioners and mid-level refrigerators to Hong Kong. Exports account for 20 percent of the company’s total annual sales.
The company maintains and operates manufacturing plants in Taytay, Rizal, where it produces export-quality refrigerators, washing machines, air-conditioners and electric fans.