Sanyo may sell stake in Chinese joint venture

Fri, 05/24/2013 - 9:37am
The Associated Press

OSAKA, May 22 (Kyodo) — Sanyo Electric Co., a group company of Panasonic Corp., is considering selling a stake of about 30 percent in its joint venture in the eastern Chinese province of Anhui, sources familiar with the matter said Wednesday.

U.S. home appliance maker Whirlpool Corp. is one of the companies interested in buying the stake worth billions of yen in Hefei Rongshida Sanyo Electric Co., which makes and sells white goods, according to the sources.

The joint venture's product lineup includes washing machines and microwaves. Its sales in 2012 totaled about 4 billion yuan, or some 67 billion yen.

Panasonic has been streamlining overlapping operations since its acquisition of Sanyo in 2009.




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