Panasonic Announces its Subsidiary, SANYO Electric Co., Ltd., Transfers Digital Camera and Digital Movie Camera Businesses
21 Dicembre 2012 - 7:30AM
Business Wire
Panasonic Corporation (NYSE:PC)(TOKYO:6752)("Panasonic") today
announced that SANYO Electric Co., Ltd., a subsidiary of Panasonic,
has formed an agreement on the transfer of all the shares of SANYO
DI Solutions Co., Ltd., which operates the digital camera and
digital movie camera businesses.
There shall be no effect on the consolidated financial outlook
of Panasonic for fiscal year ending March 31, 2013.For further
detail, please see the attached.
For ReferenceThis material is a translation into English
of the original Japanese news release
Panasonic GroupSANYO Electric Co., Ltd.
Transfer of Digital
Camera and Digital Movie Camera Businesses
Osaka, Japan - December 21, 2012 - SANYO Electric Co., Ltd.
(SANYO Electric) of the Panasonic Group announced that SANYO
Electric and the special purpose company AP26, which has a capital
subscription from a fund with services provided by Advantage
Partners, LLP (AP), have formed an agreement on the transfer of all
the shares of SANYO DI Solutions Co., Ltd. (SANYO DI), which
operates the digital camera and digital movie camera businesses as
of March 31, 2013.
SANYO Electric split off its digital camera and digital movie
camera businesses as of July 1, 2012 into the separate company of
SANYO DI in order to speed up decision making and reinforce a
strong firewall, and took various measures to strengthen its
businesses. However, in order to maintain competitiveness within
this increasingly fierce market and to provide high-value products
to the brand manufacturers as its customers, it was decided that it
would be for the best to run the businesses under a partner able to
make the optimum use of SANYO DI's technology and with a strong
connection to its customers and to expand these businesses.
In regards to the transfer partner meeting these conditions,
SANYO Electric chose AP due to its strong record of investments in
Japan and its knowhow on measures to improve corporate value, and
decided to make the transfer to AP26. SANYO DI will act as a firm
foundation for an independent business under AP and will become
able to make active business developments towards growth.
Outline of SANYO DI Solutions
Company name: SANYO DI Solutions Co., Ltd. Representative:
Takao Nishiyama, President Established: April 2, 2012 (Began
operations on July 1, 2012) Location: 1-1 Sanyo-cho, Daito City,
Osaka 574-8534, Japan Capital: 10 million yen (100% owned by SANYO
Electric) Business description: Development, manufacturing, sales,
and other business operations related to OEM digital cameras and
digital movie cameras.
Outline of Advantage Partners
Company name: Advantage Partners, LLP Representative: Joint
representative parters: Taisuke Sasanuma / Richard Folsom
Established: December 17, 1992 (Changed to present organization on
September, 2005) Location: 17th Floor Toranomon Towers Office,
4-1-28 Toranomon, Minato-ku, Tokyo Business description: Support
for the setup and running of funds and private equity investment
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