Panasonic announced on Friday that to hit its future goals, it will invest 600 billion yen ($4.9 billion) in the three years from fiscal 2023 to 2025.
Out of the total, the company will allocate 400 billion yen ($3.3 billion) to "growth areas" such as automotive batteries, supply chain software, and air conditioning, whereas 200 billion yen ($1.6 billion) will be invested in "technology pillars" such as hydrogen energy and workplace digitization.
According to the Osaka-based firm, the result would be a sharp leap in profitability. It set a cumulative operating profit target of 1.5 trillion yen ($12 billion) for fiscal 2022 to 2024. "The Group aims for reduction impact of over 300 million tons of CO 2, which are equal to approximately 1% of total global emissions as of today by 2050," reads the statement.
