TRANSFORMER Under President Kazuhiro Tsuga, Panasonic has been shifting away from consumer-oriented sectors and embracing business clients instead.

Panasonic President Kazuhiro Tsuga has promised to shut or sell businesses operating at below a 5 percent margin.

Though Musk's comments are unpredictable, Panasonic will continue to monitor Tesla's operations and closely cooperate with the company, Tsuga said.

The move is in line with the strategy adopted by company President Tsuga since he took charge in June 2012.

Restructuring costs may increase from the planned ¥41 billion announced in May, company president Kazuhiro Tsuga told reporters in Tokyo yesterday.