Panasonic Looking to Boost Sales 34 Percent Over Five Years

Businessweek reported that Panasonic Corp. (TSE:6752) has plans to increase its sales by roughly 34 percent during the next five years on the expansion of its lithium-ion battery business.

According to the report:

Panasonic is a third of the way through its three-year plan to achieve an operating profit of at least 350 billion yen by the year ending March 2016 by focusing on growing businesses after consecutive record losses. The automotive and industrial systems unit, which supplies Tesla Motors Inc. with battery cells, accounts for about a third of sales and is targeted for growth as the company ends production of plasma TVs.

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