Panasonic Homes to Strengthen Housing Biz in Asia

Economy

Taipei, Dec. 14 (Jiji Press)--Japan's Panasonic Homes Co. will strengthen its residential development business in other parts of Asia including Taiwan, aiming to boost overseas revenue amid sluggishness in the domestic housing market.

The subsidiary of electronics giant Panasonic Corp. <6752> on Thursday announced the decision to develop houses and condominiums for sale in the region.

Currently, Panasonic Homes' foreign business mainly builds houses in response to orders from developers. In many such cases, the company cannot use interior equipment made by the Panasonic group, including lighting and built-in kitchens.

Panasonic Homes hopes to increase the use of group products by expanding its housing development operations overseas.

In Taiwan, the company is already building an apartment in New Taipei City in a Taipei suburb in cooperation with the Mitsui Fudosan Co. <8801> group. Its construction is slated to finish in 2021.

[Copyright The Jiji Press, Ltd.]

Jiji Press