Regarding the Dissolution of Joint Venture with Quanta on TV Business
SANYO Electric Co., Ltd. (SANYO) and Taiwan’s Quanta Computer Inc. (Quanta) in October 2006 established SANYO Visual Technology Inc. (SVT), to handle the operations of designing, development and procurement of parts among other activities related to the global television business strategy.
The company will be placed in the Group where it has been considered to fit most effectively and synergistically in alignment with business policies and structural transformations outlined in the ’Master Plan’ or ’Mid-term Business Strategy’ which was announced regarding the next three year term earlier this fiscal year. The operations of this joint venture have been reviewed and have been determined to be essential in strengthening product appeal of future digital devices, including future digital cameras and projectors among others as digital technologies converge. Therefore, SANYO will buy the shares held by Quanta in SVT, and make it a 100% wholly-owned subsidiary of SANYO.
Hereafter, SANYO will aim for increasing profitability for the Digital System Company, including the TV business, further strengthening product appeal and new business generating capabilities by utilizing all management resources starting with its highly capable staff of engineers.
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