Panasonic : Decides on an Investment for the First Time after the Establishment of the Panasonic Kurashi Visionary Fund
November 15, 2022 at 02:11 am EST
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Osaka, Japan - Panasonic Corporation (President & CEO: Masahiro Shinada; Head office: Minato-ku, Tokyo; hereinafter "Panasonic") today announced its decision to invest (convertible note investment*) in MODE, Inc. (CEO & Co-Founder: Gaku Ueda; Head office: San Mateo, CA, USA; hereinafter "MODE"), an IoT connected platform and development support service provider, through a corporate venture capital fund ( common name: Panasonic Kurashi Visionary Fund), which Panasonic runs jointly with SBI Investment Co., Ltd. This is the first investment after the establishment of the Kurashi Visionary Fund.
MODE offers sensor platforms and related software services that enhance the operations of any enterprise. Its advantage lies in its flexible approach to business processes that vary depending on the company, in addition to essential features such as real time, large scale, high reliability, and advanced security. Through its partnership with MODE, Panasonic hopes to strengthen its technologies and expertise in recurring businesses, where services (e.g., monitoring, data analysis, visualization, maintenance, or connection to other systems) are provided based on the data collected from our devices or those of other companies, in order to develop and offer more competitive IoT solutions.
The demand for IoT solutions is high in all business settings, with approximately 27 billion IoT devices expected to be connected by 2025. Solutions for using data extracted from devices are essential for expanding service businesses (recurring businesses) that involve hardware.
Panasonic, with its mission of achieving the well-being of people, society, and the planet, endeavors to be the best partner of people's lives with human centric technology and innovation. The company will continue to encourage open innovation based on strong partnerships, through investments in promising startups in Japan and overseas that are competitive in business areas closely related to living, such as energy, food infrastructure, spatial infrastructure, and lifestyle.
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Panasonic Corporation published this content on 15 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2022 07:10:07 UTC.
Panasonic Holdings Corporation (formerly Panasonic Corporation) specializes in manufacturing and marketing of consumer electronic equipments. Net sales (including intragroup) break down by family of products as follows:
- domestic equipments, appliances and audiovisual equipment (42.5%): lighting devices, photovoltaic devices, wiring devices, health and care devices, furnishing materials, air conditioning and ventilation equipments, air purifiers, refrigerators, air conditioners, washing machines, dryers, vacuum cleaners, irons, microwaves, fans, cooking appliances, dishwashers, TVs, digital cameras, audio and video equipment, fixed telephones, showcases, etc.;
- electronic and electromechanical components (13.2%): relays, switches, power supply systems, industrial motors and sensors, capacitors, coils, resistors, materials for electronic circuits, semiconductors, LCD panels, etc.;
- automotive multimedia equipment and electronic accessories (12.4%);
- avionics, industrial automation, communication and entertainment systems (10.8%): in-flight entertainment and communication systems, electronic component assembly machines, welding equipment, projectors, professional audio-visual systems, computers, tablets, mobile communication systems and equipment, etc.;
- energy storage systems (8.9%): cylindrical lithium-ion batteries, dry batteries, primary/secondary lithium batteries, nickel-metal hydride batteries, lithium-ion batteries, energy storage modules and systems;
- other (12.2%).
Net sales break down geographically as follows: Japan (43.2%), China (13.4%), Asia (14.7%), Americas (18.7%) and Europe (10%).