SANYO Japan to sell the chip business to A Morimi semiconductor

SANYO recently said that the company has a price of 33 billion yen ($366 million) the semiconductor business will be sold to the United States A Morimi semiconductor (ON Semiconductor Corp) a wholly owned subsidiary of US semiconductor parts Industrial Co Ltd (US Semiconductor Components Industries LLC).

SANYO hopes to streamline the business, which will focus on core areas such as rechargeable batteries and solar panels. SANYO expects the deal to be completed by the end of this year.

Since the purchase of a majority stake in SANYO in December last year, the two sides have been discussing how to coordinate the business in order to achieve synergies.

SANYO believes that the chip business is not in line with the company's growth strategy, and said in a statement: for us, it is difficult to continue to put management resources into this business."