Panasonic Announces its Subsidiary, SANYO Electric Co., Ltd., Transfers
Digital Camera and Digital Movie Camera Businesses
OSAKA, Japan -- December 21, 2012
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.
This material is a translation into English of the original Japanese news
SANYO 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
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)
Development, manufacturing, sales, and other business
Business description: operations related to OEM digital cameras and digital
Outline of Advantage Partners
Company name: Advantage Partners, LLP
Representative: Joint representative parters: Taisuke Sasanuma /
Established: December 17, 1992 (Changed to present organization on
Location: 17th Floor Toranomon Towers Office, 4-1-28 Toranomon,
Business description: Support for the setup and running of funds and private
Megumi Kitagawa, +81-3-3574-5664 (Japan)
Global Public Relations Office
Panasonic News Bureau (Japan)
Jim Reilly, +1-201-392-6067 (U.S.)
Anne Guennewig, +49-611-235-457 (Europe)
Investor Relations Contacts:
Shozo Mizuno, +81-6-6908-1121 (Japan)
Corporate Finance & IR Group
Panasonic Finance (America), Inc.
Yuko Iwatsu, +1-212-698-1360 (U.S.)
Panasonic Finance (Europe) plc
Hiroko Carvell, +44-20-3008-6887 (Europe)
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