Reporting in Tokyo on Friday night Panasonic said that they are set to invest $3.3 billion into developing a new energy offering built around their recent investment in Sanyo. They are also set to spend an additional $2.2 Billion over the next three years growing their consumer electronics business and that the two Companies are now embracing each other in an effort to grow profits and market share.

Their energy investment will go into what Panasonic calls its "flagship" energy systems business, which also includes Panasonic's existing fuel cells unit. 

The world's biggest maker of plasma televisions said it lost $659.6m in the period. This is down considerably on the same period in 2009. Quarterly sales leapt by 16%.

The Japanese Company said that they are confident that they will get growth from their investment in 3D television and that in markets like Australia management from Sanyo and Panasonic are set to work closer together after Panasonic acquired 50.2% of  Sanyo late last year. 

Steve Rust the Managing Director of Panasonic Australia said "Sanyo has a pretty good operation in Australia. It is well run and outperforming other Sanyo operations across Asia. They have successfully built market share at the discount end of the market with their TV's and digital camera's while building share in the professional projector market. We are already starting to work with Sanyo management".

One strategy that could work for a combined Panasonic Sanyo in Australia is to use the Sanyo brand to push into the discount camera an TV market while using the Panasonic Lumix digital camera and Viera TV branding to compete in the premium end of each market say analysts.

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