Panasonic to start housing business for elderly in China

SHANGHAI – Panasonic Corp. will begin a business developing housing for the elderly next spring in China, featuring houses equipped with health care-related home appliances and nursing care devices, company sources said Wednesday. Panasonic will make the new housing business a pillar of its new operations in China where society is rapidly aging similarly to Japan and the market for businesses aimed at the elderly is expanding. The manufacturer will create a "Panasonic Town" with a total of 800 houses in Jiangsu. The houses will be equipped with home appliances and devices using artificial intelligence and "internet of things" technologies, the sources said. Panasonic plans to start building houses in Yixing in Jiangsu Province in March next year and sell them as early as March 2021 by collaborating with major Chinese health care company Yada International Holdings Ltd., the sources said.