Panasonic Corp. and struggling Sanyo Electric Co. announced Friday they will enter capital and business tieup talks to make Sanyo a subsidiary of the electronics giant to boost global competitiveness in green energy and electronics.
Combined, they would become the nation's biggest electronics group, with ¥11.2 trillion in sales, topping Hitachi Ltd. group, which projects sales of ¥10.9 trillion for the fiscal year ending next March.
The two firms said they will announce the results of the talks by the end of December.