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Reports coming out of Japan over the weekend reveal that Panasonic has been running a ruler over Sanyo who while struggling in the consumer electronic market are set to do well in the energy market with their rechargeable batteries and solar power saving technology.
Reports coming out of Japan over the weekend reveal that Panasonic has been running a ruler over Sanyo who while struggling in the consumer electronic market are set to well in the energy market with their rechargeable batteries and power saving technology.
The Nikkei, Japan’s largest business paper says that Panasonic are set to put a deal on the table as early as next week and have already entered negotiations with major shareholders in Sanyo.
In response Sanyo said in a statement it was considering various options concerning its preferred shares but had yet to make a formal decision.
The deal if realised says the Nikkei, would be a major realignment for the Japanese electronics industry. It also would see major banks sell share holdings for cash, despite recent falls in stock prices. Struggling Sanyo was rescued in 2006 with a 300 billion yen investment by Goldman Sachs, Sumitomo Mitsui Banking Corp. and Daiwa Securities SMBC, which received preferred shares making them the company’s biggest shareholders.
Now because of the current financial crisis these Companies are looking to cash out of struggling consumer technology Companies particularly those have not been able to capitalise on the growth in demand for flat panel TV’s.
For Panasonic, the recent plunge in share prices may present an opportunity. Sanyo’s stocks have fallen by almost a third over the last two months.
A deal would let Panasonic merge Sanyo’s large battery operations with its own, as well as gain possession of Sanyo’s solar panel business and enter the quickly growing industry.
