Japan’s electronics giant Panasonic will sell the plant where it first bought into the TV business half a century in the past because it shifts away from the money-dropping division, a file mentioned Saturday.
The company plans to promote 60 pic of the plant’s one hundred twenty, 000-square meter web page in Ibaraki, near the western city of Osaka, to Japan’s major homebuilder Daiwa house via early subsequent yr., the business day-to-day Nikkei said.
The price tag is estimated at 10 billion yen ($97 million).
Daiwa house is anticipated to construct a big-scale logistics facility at the website and lease it to parcel delivery company Yamato Holdings Co., Nikkei stated.
Panasonic can also be taking into consideration selling the remainder forty pic of the web site to the municipal administration of Ibaraki and its homebuilding unit, panahome, Nikkei said. The property may then be retrofitted for public amenities and residential use.
No officials had been right away available at Panasonic’s head administrative center to confirm the file.
The plant began producing cathode ray tube sets in 1958, and helped turn Matsushita electrical Industrial as Panasonic was then known into a worldwide electronics company.
In 2001, Panasonic converted the power right into a plasma TV plant dealing with the whole thing from making panels to assembling the units. The company shifted many of the operations in 2005 to a brand new plant in neighborhood Amagasaki.
Panasonic said in April it posted its first annual net revenue in three years and reversed an enormous loss suffered in the previous twelve months because it presses on with a sweeping restructuring.
The company, together with competitors Sony and Sharp, has struggled in recent years, mostly because of big losses of their TV units however a sharply weaker yen over the last 12 months has helped boost their bottom line.
These firms have stopped manufacturing of plasma TV panels as they persevered efforts to fortify their battered steadiness sheets.