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.

Toyota Motor Corp. and Panasonic Corp. said Thursday they will integrate their housing businesses in an expansion of an existing tie-up, as they seek to collaborate on "town development" for next-generation lifestyles where homes and vehicles are connected to the internet. The companies plan to set up a joint venture on Jan. 7, 2020. Toyota will focus on new mobility services using self-driving technology, while Panasonic brings strengths in developing smart homes equipped with appliances supported by internet and other digital technologies. The venture, Prime Life Technologies Corp., will bring housing units of both companies under its wing, including Toyota Housing Corp., Misawa Homes Co. and Panasonic Homes Co. The move by the leading carmaker and electronics manufacturer comes amid shrinking demand in the domestic housing market due to Japan's declining population.