USA 7s D1 Results: Samoa 19-15 Australia, NZ 40-5 Japan, England 12-7 Scotland, Kenya 38-0 Brazil, Wales 12-29 South Africa, France 21-19 Uruguay, Canada 12-19 Argentina, Fiji 33-19 USA, Samoa 33-0 Japan, NZ 31-5 Australia, England 29-5 Brazil, Kenya 17-14 Scotland, South Africa 35-0 Uruguay, France 12-14 Wales, Canada 19-12 USA, Fiji 14-12 Argentina.
Suva, Fiji
Temp: 79 °F / 26.1 °C
Wind: 12.9 KMH
INTERNATIONAL BUSINESS NEWS
November 01, 2008 04:24:04 PM

Japan's Panasonic Corp. is considering buying its domestic rival Sanyo Electric Co. to become the nation's largest electronics manufacturer, news reports said Saturday.

Under the plan, Panasonic was to begin negotiations with the three top shareholders of the troubled electronics firm as early as this month, the Nikkei business daily, Jiji Press and Kyodo News reported.

The shareholders -- Sumitomo Mitsui Banking Corp., the Daiwa Securities SMBC group, and the Goldman Sachs group -- hold a total of nearly 430 million preferred shares in Sanyo.

In 2006, Sanyo issued preferred shares worth 300 billion yen (3.1 billion dollars) to the three shareholders.

If converted into common shares, the shares would represent some 70 percent of Sanyo's outstanding issues in terms of voting rights.

Panasonic, which changed its corporate name from Matsushita Electric Industrial on October 1, hopes to secure a basic agreement with the three financial institutions by the end of the year, the reports said.

Through the acquisition of Sanyo, Panasonic hopes to boost its lithium-ion battery sales and newly-launched solar battery businesses, they said.

The combined projected group sales of Panasonic and Sanyo for the year ending March 2009 come to 11.2 trillion yen, surpassing the 10.9 trillion yen sales estimate for Hitachi Ltd., Japan's largest electronics manufacturer.

It was not possible to immediately confirmation the reports.

* Get local and international rugby news , gossip & live updates/results on your phone. Txt VRUG to 333 now.

* Get local and international football news, gossip & live updates/results on your phone. Txt VSOC to 333 now.

   

Post a Comment
Bookmark and Share
Posted Comments
No comments, but you can post the first comment!
LOCAL
Heavy rain hits Savusavu, TaveuniSavusavu, Taveuni and some parts of Labasa are currently experiencing heavy rain.
SPORTS
Lions quartet set to face more chargesSuspended Labasa reps, Taione Kerevanua, Ilisoni Logaivou, Kavaia Rawaqa and Amani Makoe failed to appear before the Labasa FA disciplinary committee today.
BUSINESS
ATH to buy FINTELAmalgamated Telecom Holdings Limited (ATH) is awaiting necessary government approvals before it proceeds to own the Fiji International Telecommunications Limited (FINTEL).
ENTERTAINMENT
Jolie's directorial debut trails 9/11 dramaAngelina Jolie says it was only natural that her directorial debut should tackle some of the toughest issues facing humanity and after wartime Bosnia, Afghanistan is likely to be her next subject.
OFFBEAT
Implanted breasts save woman in crashA model with the world's largest implants was saved from a car crash after her breasts acted as an airbag.
FIJIAN
Veidigidigi ena na 2014 e dei tikogaE vakaraitaka na Paraiminisita ni noda vanua o Commodore Voreqe Bainimarama ni na dei tikoga na navunavuci ni matanitu oqo ena na kena vakayacori na veidigidigi ena yabaki 2014.