Friday, 7th November 2008
In Business In Japan,
Panasonic and Sanyo in takeover talks
Japanese electronic firms Panasonic and Sanyo are in talks about a possible takeover, it has emerged.
The New York Times reports that Panasonic could be aiming to acquire Sanyo's green energy businesses, which include production of solar panels and batteries.
If it takes over the company's car lithium-ion battery business, Panasonic will be able to claim a significant share of the world's battery operations.
Sanyo President Seiichiro Sano did not elaborate on the specifics of any deal but said he hoped to achieve value for the company's stakeholders.
Meanwhile, Fumio Ohtsubo, Panasonic's president, said: "We need another engine for growth.
"We need another pillar for far greater growth. And Sanyo was that best partner."
He also said that any takeover would lead to the creation of Japan's largest electronic business.
Among the newest products being offered by Panasonic are the DMP-BD55 blu-ray disc players and HDC-SD100 high definition camcorder.