Panasonic Corp. and SANYO Electric Co. Ltd. have entered into a capital and business alliance agreement. Under the terms of the agreement, Panasonic will aim to acquire the majority of the voting rights of SANYO assuming full dilution by means of a public tender offer bid. Panasonic and SANYO state that they will form a close alliance in business with the prospect of organizational restructurings of both companies.
Among other goals, by utilizing the business platform of Panasonic, the companies aim to respond to the demand for solar batteries for which significant future growth is expected, through further expanding business in the area of highly efficient HIT (crystalline silicon) solar photovoltaic cells and modules (batteries), and acceleration of development and commercialization of next-generation solar cells.
In addition, according to the companies, by utilizing the domestic and overseas sales platforms of the Panasonic Group, they can experience a significant increase in sales.
SOURCES: Panasonic, SANYO