Tech Industry

Matsushita denies reorganization plans

Consumer electronics giant Matsushita Electric Industrial, best known for its Panasonic and National brands, denied on Wednesday media reports in Japan that it plans to transform five of its group companies into wholly owned subsidiaries through share exchanges. Although Matsushita is studying alternatives for reorganizing its operations, the company said, it has not yet decided to pursue any alternative to the current structure.

Consumer electronics giant Matsushita Electric Industrial, best known for its Panasonic and National brands, denied on Wednesday media reports in Japan that it plans to transform five of its group companies into wholly owned subsidiaries through share exchanges. Although Matsushita is studying alternatives for reorganizing its operations, the company said, it has not yet decided to pursue any alternative to the current structure.