Panasonic's green tech to boost company

Sanyo s Solar Arc

Panasonic is hoping that its takeover of Sanyo will make energy systems its flagship division and help to triple its sales in the next three years.

A £2.8 billion takeover of Sanyo has brought a wealth of expertise in batteries and solar panels – something that the hierarchy at Panasonic see as a key growth area.

"The two brands will work closely to learn from each other and bring together the wisdom of each company," Panasonic said in a statement.

Green growth

Panasonic is hoping for a jump from 7 trillion yen in revenue this year to 9.5 trillion yen in 2013 – a rise from £47 billion to £63.5 billion, driven by a big increase in sales.

The Japanese company will invest 100 billion yen (£672m) over the next six years to expands its solar cell production, as well as claim 40 per cent of the global market in lithium-ion rechargeable batteries.

Via PA