TOKYO -- Panasonic plans to close printed circuit board plants in Japan, Vietnam and Taiwan in a cost-savings measure, the company said.

Panasonic, which last year expanded sites in Taoyuan and New Taipei City, Taiwan, and opened one in Vietnam, said it has lost billions of dollars over the past two fiscal years at its circuit board business.

Starting in March, the company will begin a year-long process of shutting down operations at its PCB plants in central Japan and north of Tokyo. PCB production in Vietnam and Taiwan will also cease by March 2015. Other operations at each plant will continue.

Panasonic had sales of $456 million in 2012, down from $528 in 2011, according to Dr. Hayao Nakahara's latest NTI-100.

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