Tag Archives: Panasonic

Panasonic Quietly Recognizes Same-Sex Marriage

Attitudes towards expansion of certain types of worker’s rights, such as same-sex marriage, do not get the same kind of wide-spread support in Japan as they do in the United States. In a move that is out of step with the prevailing cultural and business attitudes held in Japan, Panasonic has, albeit quietly, recognized the legitimacy of same-sex partnerships.

Panasonic decision is highly unusual, and although it is bold, it is unlikely to be the beginning of a new trend in Asia. “Coming out” is highly problematic in countries like China, South Korea and the Philippines, as well as much of the rest of Asia. Not only do the individuals coming out face extreme ridicule, their families also have to endure abuse and even ostracism.

Lenny Sanicola, an expert on employee benefits policy at a Washington DC-based non-profit called WorldatWork, thought Panasonic’s low-key approach to their announcement was a mistake. He said that “Panasonic would be a pioneer in Japan,” if they would announce their new policy loud and clear to the entire world. The message they would project would show that the company placed a high value on diversity, thus attracting younger talent to Japan, a country that is aging quickly.

Sanicola added that it is just a matter of time until the Asian countries adopt the same position as that held in Europe and North America.

Panasonic Making Comeback as Profits Posted for 2014

Panasonic makes Lumix cameras
Panasonic makes Lumix cameras

Japanese-based electronics company Panasonic posted a profit this year after two years of losses, the company reported. The turnaround is a response to the weakening of the yen and company restructuring, both of which helped with a steady and gradual recovery. A 16 percent increase in gains is expected this coming year.

Panasonic is not the only Japanese electronics company that has been having difficulties showing profits. Competition with Apple Inc and Korea-based Samsung has forced prices of consumer electronics and gadgets down, furthering Panasonic’s troubles.

Panasonic, whose headquarters I in Osaka, is the maker of Lumix cameras and Evolta batteries. The company reported a profit of 120.4 billion yen ($1.2 billion) for the fiscal year ending in March 2014. This is a large improvement over the previous year when the company posted a $1.4 billion loss. During the fiscal year which ended in March 2012 Panasonic posted the largest loss ever for a Japanese company, $7.72 billion. There is a projection of an additional $1.4 billion net profit for the coming fiscal year ending in March 2015.