Sanyo to shut 20% of plants in Japan in 3 years

Sanyo to shut 20% of plants in Japan in 3 years

MORIGUCHI, Japan - Sanyo Electric Co. Chairwoman Tomoyo Nonaka announces a new management plan at a press conference in Moriguchi, Osaka Prefecture, on July 5. She said the company will shut down and sell 20 percent of its plants in Japan and cut its global workforce by 15 percent in the coming three years to boost its profitability following a record loss in the 2004 business year ended in March.

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