Osaka, Nov. 18 (Jiji Press)–Panasonic Holdings Corp. said Monday that it will sell an 80 pct stake in Panasonic Housing Solutions Co., a housing equipment unit, to YKK Corp. for an undisclosed sum. The sale is part of a restructuring effort by the Japanese electronics company targeting operations with low profitability. The transaction is set to be completed during fiscal 2025, which ends in March next year. Panasonic Holdings will continue to own 20 pct of Panasonic Housing. The company hopes that the deal will create a synergy effect between Panasonic Housing and YKK AP Inc., an aluminum construction material unit of YKK. Kazuyo Sumida, executive officer at Panasonic Holdings, told a press conference that its construction material business will benefit significantly from the partnership with YKK AP. END [Copyright The Jiji Press, Ltd.]
Panasonic to Sell Housing Equipment Unit to YKK
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