TapTechNews May 23 news, Nikkei news, a subsidiary of Japan's Panasonic Holdings plans to exit the high-end projector business and focus resources on the digital supply chain system.
Panasonic Connect is a well-known brand in the field of high-end large venue projectors globally and has provided projectors for global events such as the 2020 Tokyo Olympics.
The Japanese financial services group Orix and at least one international investment fund have shown interest in purchasing this projector business. Panasonic Connect will decide the buyer of this business as early as June, estimated to sell for 80 billion yen (TapTechNews note: currently about 3.704 billion yuan).
The sale will raise funds for the expansion of the Panasonic Connect systems business, which is an important growth area centered around the US supply chain software developer BlueYonder.
Panasonic Holdings acquired BlueYonder in 2021 at a price of more than 7 billion US dollars (currently about 50.75 billion yuan), and the proceeds from the sale of the projector business will be used to acquire other supply chain software developers.
Panasonic Holdings is promoting a three-pronged growth strategy of electric vehicle batteries, heat pumps, and supply chain management. The company plans to invest nearly 600 billion yen (currently about 27.78 billion yuan) in the electric vehicle battery business in the three years ending fiscal year 2024.
But as the growth rate of electric vehicle sales slows and the uncertainty in the battery field increases, the systems business of Panasonic Connect may become a key factor for the group's profit growth.