This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Panasonic Announces Dissolution Of Joint Venture Of Motor Business

Panasonic Corporation (NYSE:PC)(TOKYO:6752)("Panasonic") today announced that Minebea Co., Ltd. ("Minebea") and Panasonic reached an agreement today that Panasonic would promptly transfer all of its shares in their joint venture of Minebea Motor Manufacturing Corporation to Minebea and dissolve their alliance.

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.

Minebea Co., Ltd.Panasonic Corporation

Dissolution of Joint Venture of Motor Business

Minebea Co., Ltd. ("Minebea") and Panasonic Corporation ("Panasonic") today reached an agreement that Panasonic would promptly transfer all of its shares (40 percent of the capital) in their joint venture of Minebea Motor Manufacturing Corporation ("Minebea Motor") to Minebea and dissolve their alliance.

Minebea Motor had been set up on April 1, 2004, integrating the fan motor, stepping motor, vibration motor, and DC brush motor business of Minebea and Panasonic, to develop a globally competitive business by leveraging the ultra-precision machining technology, mass production technology, and cost competitiveness of Minebea with the innovative product development strength of Panasonic. On April 1, 2010, businesses for small brushless motors, power brushless motors, and polygon mirror scanner motors had been transferred to Minebea Motor from Panasonic for further business development. However, the environment of the motor manufacturing business is changing recently, Minebea and Panasonic reached an agreement to dissolve the joint venture and to seek further business expansion for Minebea Motor to continue on as a wholly-owned subsidiary of Minebea, after reconsiderations for businesses.

Minebea, Minebea motor and Panasonic will maintain the further collaborative relationship through continuous products supply in future.
 

Minebea Motor Manufacturing Corporation
    Representative:   Hiroyuki Akatsu
Location: 4106-73 Oaza Miyota , Kitasaku-gun, Nagano prefecture
Description of businesses: Development, manufacturing, and sales of small motors for electronic devices and information equipment
Date of establishment: April 1, 2004
Capital: 10 Billion JPY
Ratio of capital: Minebea 60%, Panasonic 40% (as of end-January, 2013)
Sales : 54.4 Billion JPY (year ended in March, 2012)
Employees: 7,493 (as of end-March, 2012)
Production/Development Bases: Karuizawa, Hamamatsu, Yonago, Thailand, Malaysia, China, Cambodia
 
■ Media Inquiries:
    Minebea Co. Ltd., Corporate Communications Office   TEL +81-3-6758-6703
Panasonic Corporation, Groupwide Brand Communications Division, Public Relations Group
TEL +81-6-6908-0447 (Osaka)

TEL +81-3-3574-5661 (Tokyo)

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs