Panasonic, Sanyo In Talks Regarding Alliance
Panasonic Corp. and Sanyo Electric Co. Ltd., upon the resolutions of meetings of the respective boards of directors Friday, agreed to start discussions for a capital and business alliance between the two companies.
Panasonic and Sanyo will start discussions with the aim of maximizing both companies’ corporate values by pursuing synergies between both organizations and further strengthening initiatives to achieve potential revenue and profit growth through an alliance.
Through a capital and business alliance based on the premise of making Sanyo a subsidiary of Panasonic, officials said they aim to share both companies’ management know-how and business resources while collaborating with each other, creating a global competitive foundation which will maximize corporate values of both Panasonic and Sanyo and bring benefit for both companies’ shareholders and all other stakeholders, including customers and employees.
Panasonic and Sanyo will immediately set up a project team to start intensive discussion on the capital and business alliance between both companies based on the premise of making Sanyo a subsidiary of Panasonic, keeping a variety of options in mind.
After discussion between both companies, officials said they will disclose the subsequent progress of the talks between both organizations around the end of the year. If an agreement is made earlier, the information will be disclosed promptly.