OSAKA, Japan--(BUSINESS WIRE)--PanaHome Corporation today announced it will establish a new regional headquarters in Singapore, effective April 1, 2015. The wholly-owned subsidiary named PanaHome Asia Pacific Pte. Ltd will focus on expansion of the housing business in the ASEAN countries except Malaysia.
As a Panasonic group company, PanaHome contributes to the overall growth of Panasonic through housing business. Panasonic Corporation has set a target of 10 trillion yen in consolidated sales in the fiscal year ending March 2019, of which 2 trillion yen is expected to come from the housing business. PanaHome aims to account for a quarter of the targeted housing sales, or 500 billion yen, of which 50 billion yen will be generated overseas. To attain these goals, PanaHome, which currently has two bases outside Japan, in Taiwan and Malaysia, will accelerate its overseas housing business by expanding to cover the entire ASEAN region. PanaHome Asia Pacific is conveniently located within about two hours from any ASEAN country. The regional headquarters will promote information gathering and marketing activities in each target area and may set up a special purpose company with local developers to pursue an optimal framework for each project, thereby building a locally-driven system from order acquisition to construction.
Starting with the smart town development projects currently under negotiation in Indonesia, Vietnam and Cambodia, the regional headquarters will step up the development of its housing business in the Asia Pacific region, with the goal of achieving 10 billion yen in sales in the fiscal year through March 2019.
Outline of PanaHome Asia Pacific Pte. Ltd.
It will operate under the Overseas Business Division of PanaHome Corporation, as is the case with PanaHome Taiwan Co., Ltd. and PanaHome Malaysia Sdn Bhd, and carry out its business in two steps. As the first step, it will focus on enhancement of its information-gathering capability to facilitate order acquisition, investigation of the rules and regulations of each country, and improvement of its problem-solving capability. As the second step, it will strengthen its marketing capability to adapt to the situations that vary from country to country and reinforce its functions as a regional corporate headquarters. PanaHome Malaysia will transfer the projects it has been conducting in the ASEAN region except Malaysia to PanaHome Asia Pacific and concentrate its operation in the Malaysian market.
Corporate Name: PanaHome Asia Pacific Pte. Ltd.
Head Office: 202 Bedok South Avenue 1 #01-14 Singapore 469332
Capital: 100 million yen
Number of Employees: 3 (As of April 2015)
Stock Ownership Ratio: 100% owned by PanaHome Corporation
Main Business Activities: Real-estate development, housing construction business
Establishment: April 1, 2015
● Outline of PanaHome Corporation
Corporate Name: PanaHome Corporation
Head Office: 1-1-4, Shinsenri-nishimachi, Toyonaka-shi, Osaka 560-8543, Japan
President: Mr. Yasuteru Fujii
Capital: 28.4 billion yen (As of March 31, 2014)
Sales: 324.5 billion yen (Fiscal year ended March 2014 / On a consolidated basis)
Number of Employees: 5,218 (As of March 31, 2014 / On a consolidated basis)
Establishment: July 1963
Established in 1963, PanaHome Corporation traces its roots back to the passionate vision of Konosuke Matsushita, founder of Panasonic Corporation, who sought to build quality houses befitting the vital role they play in people’s lives. As the housing company of the Panasonic Group, PanaHome recorded consolidated net sales of 324.5 billion yen for the year ended March 31, 2014. For more information about PanaHome, please visit the company's website at http://www.panahome.jp/english/.