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Panasonic to tap subsid’s retail network in India: Nikkei

Panasonic to tap subsid’s retail network in India: Nikkei
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First Published: Sat, Aug 07 2010. 12 45 PM IST
Updated: Sat, Aug 07 2010. 12 45 PM IST
Tokyo: Japan’s Panasonic Corp will start selling its home electronics and similar products made by subsidiary Sanyo Electric Co via another subsidiary’s retail stores in India, the Nikkei reported on Saturday.
Panasonic said on 29 July that it would buy out subsidiaries Sanyo Electric and Panasonic Electric Works (6991.T) for up to $9.4 billion in cash and shares to accelerate its push into greener businesses.
Panasonic will use Panasonic Electric’s retail sales network in fast-growing India in this fiscal year ending in March to push into emerging markets and take advantage of Panasonic’s buyout of the two firms, the Nikkei said, without citing anyone.
Panasonic, a conglomerate whose products range from flat-screen TVs to medical equipment, is also considering a similar strategy for its sales channels in Japan, North America and Europe, the Nikkei said.
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First Published: Sat, Aug 07 2010. 12 45 PM IST