Panasonic Corporation announced it has completed the process of acquisition of a majority of voting shares from Sanyo Electric. Now, Sanyo becomes a consolidated subsidiary of Panasonic and will continue to operate as one more company of the new Panasonic Group.

Since the agreement was finalized for a Capital and Business Alliance in December 2008, two companies established a Partnership Committee. While working to achieve international approval of competition authorities, the committee also was responsible for planning how to manage and strengthen its financial position and business of the companies already merged.

The new Panasonic Group will focus on exploiting and experience in technology and manufacturing processes that the two companies have grown over the years, to strength themselves and compete with solid arguments in the global market.

Particularly in the energy business, where strong global growth is expected Panasonic Group will strive to become the leader in environmental innovation in the field of electronic industry. The intention is to achieve this objective in 2018, the date on which celebrates its centenary of the founding of Panasonic. To achieve this goal, the group would seek to capitalize on its operation based on industry-leading technologies and innovative products.

Panasonic will Outline the strategy for the new “Panasonic Group” when presenting the new business plan over the medium term of the next fiscal year.