Reuters: Panasonic to sell/close some businesses

"Our new boss has said businesses must achieve at least a 5 percent operating profit target within three years," Kawai said, referring to Kazuhiro Tsuga, who took over as company president in June. "But we won't wait that long to tackle units that need to be dealt with."

Sell-offs and business closures will start as early as next year, he told Reuters at Panasonic's headquarters in Kadoma, near Osaka in western Japan.

http://www.reuters.com/article/2012/11/14/us-panasonic-cfo-idUSBRE8AD0D120121114