Panasonic Intends to Put Forward An Innovative 2018

Panasonic Intends to Put Forward An Innovative 2018

The world famous Japanese electronics company, Panasonic, has recently announced its plan to enter the Thai property market with the help of a joint venture with a Thai company to commence the construction of not only houses but also shopping malls and hospitals. This is expected to happen within the next two years.

The Managing Director of PanaHome Asia Pacific Pte, Kazuhiko Tanaka, announced that the company is going through several negotiations with some local property companies, and that he intends to choose the one that will become a strong business partner to make Panasonic’s entry in the Thai property market a lot more prominent, very soon. Mr Tanaka said that Panasonic would hold 49% of the shares in the joint venture.

Panasonic is planning to choose its joint venture partner next year and believes it will be ready to start its first Thai project in 2018. It plans to start with a housing project that will be intended for residents that have a medium to high income with prices starting from a comfortable 4 Million THB per unit.

The Japanese company first expanded its business into Taiwan, followed by Malaysia and now Thailand. In Taiwan and Malaysia, Panasonic is also part of joint ventures. At present, it’s partaking in ten property projects in Taiwan while it has already built four housing projects in Malaysia.

Mr Tanaka declared that there was a strong interest in entering the Thai property market because Thailand is one of the top Asian markets, with consumers accepting Japanese designs and innovations with great fervour.

Panasonic is a very strong company with more than 50 years of experience. Apart from providing electronic items, it also offers solutions for the property market such as security, smart homes and energy.

Hidekazu Ito, the managing director of Panasonic Siew Sales (Thailand) Co that is in charge of distributing the company’s home appliances, mentioned that Panasonic was launching a series of eco-friendly products in the House and Condo fair.

Nowadays, nineteen companies operate under Panasonic’s supervision in Thailand. Four of those companies belong to the sales sector including Panasonic Eco Solutions Sales (Thailand) Co, Panasonic Industrial Device Sales (Thailand), Panasonic Siew Sales (Thailand) Co and Panasonic A.P. Sales (Thailand) Co. The combined transactions amounted to more than 36 Billion THB last year.

This year, Panasonic believes the four companies will produce sales in excess of 37 Billion THB.

Keyword/phrase – Thailand, Panasonic, Japanese, Thai Property Market.