In an apparent move to cut costs, Japan's Matsushita Electric Industrial Co. Ltd. has reeled in two subsidiaries.
The company has decided to absorb its battery unit, Matsushita Battery Industrial Co. Ltd. (MBI). The move, which will save costs, is expected to take effect on October 1.
The company anticipates greater demand for alkaline batteries globally, shifting from manganese batteries.
In rechargeable batteries, the market is expected to grow mainly in lithium-ion batteries, as a result of increasing demand for mobile equipment.
Matsushita will also absorb another subsidiary, Matsushita Technology Information Service Co. Ltd., on October 1.
Both moves are part of the company's three-year mid-term management plan.