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Panasonic Outlines Impact Of Chinese Factory Protests

9/21/2012 05:47:00 AM Eastern

Osaka, Japan – Panasonic issued a statement on the impact recent anti-Japanese demonstrations in China have had on their plants in that country.

The recent demonstrations in China are the result of a dispute over a set of islands both countries claim as theirs, which has led to protests at a variety of Japanese-owned facilities in the country, including Canon, which reported closed a facility in China.

Panasonic reports that there have been no injuries to its personnel so far due to the protests.

In a statement, Panasonic said at its Industrial Devices Company plant in Qingdao, which manufactures electronic components such as switches, “there was damage to the building, equipment, etc. With safety as a priority, preparations to restart the operations at the factory are underway, but the restarting date is uncertain.”

Panasonic said that its Industrial Devices Company factory in Suzhou factory, which manufactures printed-circuit boards, there has been “some damage to the building, equipment” but “there was no major damage to production equipment. With safety as a priority, operations at the factory restarted on Sept. 17.”

And at its Systems & Communications Company facility in Zhuha, which makes fixed-line phones, operations have stopped and employees have stayed at home, since about 10 Chinese employees protested. The factory is preparing to restart the operations, after ensuring safety, Panasonic said.

As for the effect by the damage is to Panasonic’s overall financial outlook, it is “uncertain at the moment,” the company said, adding that “an announcement will be made promptly if a significant impact on [the company’s] consolidated financial outlook for fiscal 2013 is foreseen.”

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