We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Panasonic and Sanyo deny rumoured tie-up

Sanyo shareholders said to be planning sale

Sanyo and Panasonic have denied a report that they are considering a tie-up.

Japan's Yomiuri Shimbun daily newspaper said the three largest shareholders of Sanyo were considering selling their stake in the struggling electronics maker to Panasonic. The shareholdings of Sumitomo Mitsui Banking, Goldman Sachs and Daiwa Securities SMBC jointly total 67 percent of Sanyo shares.

Sanyo has recorded losses for the last three years and is currently in the midst of a restructuring that has already seen it dump unprofitable divisions and businesses. The restructuring has had an effect on the company's bottom line and losses have been reduced each year. For the financial year that ended in March the company is expected to report a profit.

Panasonic is due to announce full year financial results later today.


IDG UK Sites

Black Friday and Cyber Monday 2014 tech deals UK Live: Best Black Friday deals from Apple, Amazon,...

IDG UK Sites

Why are people still buying satnavs? Smartphones are the modern satnav

IDG UK Sites

New Star Wars trailer: Watch the VFX-laden teaser for The Force Awakens

IDG UK Sites

Black Friday 2014 UK: Apple deals, Amazon deals & Black Friday tech offers UPDATED