The hottest household appliance industry in Japan

2022-10-22
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The Japanese household appliance industry is approaching sinking: Panasonic may lose 10 billion dollars

the film "Japan sinking" has vividly demonstrated the Japanese sense of crisis, and this scene is really being staged in the Japanese household appliance industry. Just like when it was admitted that textile and steel were no longer brilliant, the gold lettered signboard of "Japanese household appliances" is irresistible to "death"

"flagship" enterprises are declining

although they have been prepared and have made efforts to adjust before, the nightmare of huge losses still lingers

recently, Panasonic, Sony and sharp, the three giants of Japanese household appliances, have successively released the results of the second fiscal quarter of this fiscal year as of September 30 this year. None of the three giants has been able to reverse the situation of huge losses for consecutive quarters

among them, Panasonic, the largest enterprise employer in Japan, showed the most shocking information on November 2. The company cut its annual revenue by 7%, and its net loss for the fiscal year ended March 31, 2013 will reach 765billion yen (about $9.6 billion). In May this year, Panasonic is also expected to achieve a net profit of 50billion yen in the fiscal year, completing the turnaround

in view of the current situation, Panasonic chief financial officer Yingming Kai said, "the current situation facing the company is worse than our previous expectations, and our prospects for the second half of the fiscal year are very grim". Among them, "digital consumer businesses such as TVs, cameras, Blu ray players and PCs are more comprehensive than we expected three months ago."

the second quarter financial report released by Sony last Thursday showed that Sony had a net loss of 15.5 billion yen (about 194 million US dollars) in the second quarter ended September 30. This is the seventh consecutive quarterly loss for Sony. At present, the new CEO of Sony, Ichio Hirai, is leading the enterprise to save itself. First, he made a total of 10000 layoffs, then sold some assets, and then invested 50billion yen in Olympus, adding to the promising medical imaging field

Sony CFO (CFO) Kato said, "in the future, sales and market share will no longer be the corporate goals pursued by Sony. Our urgent goal now is to achieve Sony's business profitability as soon as possible, so we will not hesitate to reduce the sales volume."

Sharp's situation is not good. Sharp released its performance report for the first half of 2012 on November 1. In 22, the hardness tester itself will produce two kinds of errors: 1. The error caused by the deformation and movement of its parts; 2. The error caused by the hardness parameter exceeding the specified standard. In the half fiscal year of 2012, a total loss of 387.584 billion yen (about $4.84 billion)

the disappearance of technical leadership

the industry is quite concerned about the financial performance of the three Japanese enterprises this time. "Wall Street" commented that "like the dinosaurs that crashed after the planet hit the earth"

due to sharp's "ugly" performance, Fitch international credit rating Co., Ltd., the world's major credit rating agency, announced on November 2 that it had reduced Sharp's credit rating to junk

Fitch downgraded Sharp's credit rating by six grades to B on the same day, which is no longer a safe investment grade

Standard & Poor's, another international credit rating agency, also announced on November 2 that it would downgrade Panasonic's long-term credit rating to "BBB"

ten years ago, Japanese household appliance enterprises were also important technology innovators, inventors and leading developers of many products and trend devices. They were world leaders in the logistics "Green Plan" machines, portable music players and game consoles implemented by TV, digital phase Alibaba and its Cainiao logistics network in conjunction with 32 logistics partners around the world. Nowadays, few Japanese enterprises have products that can occupy the leading position without dispute, and they have been surpassed by Apple or Samsung

Why did the Japanese household appliance industry decline so rapidly in the past decade? Industry analysts said that the fierce competition in the global home appliance market may be one of the reasons for the decline in product prices. Adverse external factors also include natural disasters. The earthquake in Japan last year further weakened the industrial chain of Japanese enterprises. In addition, the appreciation of the yen has also severely reduced the export competitiveness of Japanese enterprises

however, in the view of Kawakami Hasegawa, chairman of the Tokyo CPI Institute of social power, which is known as the "godfather of management" in Japanese business circles and ensures the accuracy of the host, external factors are important, but it does not seem to be the core factor of the decline of Japanese electronic enterprises. One of the reasons for the decline of Japanese electronic enterprises is the lack of competitiveness of products

as consumers pay more and more attention to content, application and simplicity of operation, the technological competitive advantage of Japanese enterprises is becoming increasingly insignificant

konowan of McKinsey also believes that "Japanese enterprises used to mainly innovate hardware and equipment, and their ability in this area is unmatched. But the current problem is that the main driving force of global innovation has shifted from hardware to software, systems, solutions and other fields."

Japan's current weakness is rooted in its traditional advantages, focusing on "m onozukuri" (that is, the art of manufacturing), and focusing on the improvement of hardware

mastering the most advanced technology was once the main competitive advantage of Japanese electronic equipment manufacturers. It promoted Japanese electronic companies to strive to produce often the thinnest and smallest products in the world or launch other progressive technological progress, but they ignored the factors that people really care about, such as the design and convenience of products

in this regard, when taking over as president of Panasonic in June this year, Jin heyihong admitted that "Japanese enterprises are too confident in their own technology and manufacturing skills, and we have neglected to look at products from the perspective of consumers."

the success they have achieved and their dependence on the domestic market have led Japanese household appliance enterprises to be too complacent, thus constantly erasing their innovation ability. Later, they found that they were powerless in the face of the transfer of growth points to new industries, the transfer of consumer interest, and the impact of a new generation of competitors

gradually withdraw from the household appliance industry

"we are one of the losers in the consumer electronics industry." Matsushita president Tsuga Yihong bluntly summarized the current situation of Japan's household appliance industry

previously, sharp failed to obtain Hon Hai Chairman Terry Gou to invest 67billion yen due to the lack of progress in negotiations with Hon Hai. Now, in the face of huge losses, the consumer electronics giant, known as the "father of LCD", even issued a "wail" that "we may not be able to survive". And the Japanese C om m ons asset management company c e o zhe Lang Li also said, "sharp may not go bankrupt this year, but I think their business will not survive for three to five years, and they don't have much time left."

people in the industry are generally not optimistic about the future prospects of Japan's household appliance industry

liubuchen, a senior figure in household appliances, said that the overall feeling is that the trend of Japanese enterprises throughout the year is worse than expected. "It is difficult to draw an optimistic conclusion. At present, the economic situation has not improved, and there is no sign of success in the strategic transformation of Japanese household appliance enterprises, so it is difficult to predict when they will get out of trouble. But at least in the first half of next year, the profitability of Japanese enterprises will be greatly questioned."

Peter tal Larson, a columnist at Reuters breakingviews, believes that Japan's home appliance industry is in a vortex of death. He said that innovation is not as simple as throwing money everywhere: Apple's R & D spending accounts for a lower proportion of revenue than Sony. Given that Japanese electronics companies will face more losses and further business restructuring, they have little hope of making a comeback

in the face of losses, Japan's traditional home appliance giants, represented by Panasonic, Toshiba and Hitachi, are also divesting their low profit and highly competitive home appliance businesses and starting to transform to commercial fields with higher profits such as heavy industry, new energy and transportation, and higher capital and technological barriers. Because in this way, we can not only get rid of the long-standing burden of loss making industries, but also take the opportunity to complete industrial upgrading and pursue higher profit upstream high-end technology

now it seems that no longer making household appliances will become a helpless choice for Sony, Panasonic and sharp

in fact, "Japanese household appliances", which marks the most high-end, excellent and guaranteed pronoun of the global traditional household appliance industry, is irresistibly sliding towards "death". Since 2008, Japanese household appliance enterprises have retreated across the board, and the TV industry has suffered the most severe losses. Since 2009, Japan has become an importer from an exporter of household appliances, while Mitsubishi, Hitachi, Toshiba, NEC and other previously prominent enterprises have faded out of the competitive stage of the world household appliance market. (. Economics, economics, reference, examination and application)

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