Osaka, Japan - Panasonic
said here Wednesday that it is spinning off a separate company from its Sanyo
Electric unit to produce digital camera and camcorder products for the OEM
market, effective July 1.
According to a company
statement, Sanyo Electric
has been "promoting the digital movie camera and digital camera business [for]
OEM" (manufacturing for other party brands).
The newly created company will be called Sanyo DI Solutions, and
will have sector rights over the obligations, assets and liabilities required
to run the business for Sanyo as a separate business entity.
"The digital movie camera and digital camera business of the company
is to establish a robust firewall and accelerate decision-making as a separate
corporation, to strengthen the management structure [and] enhance the autonomy
of the business" to deepen further the relationship of trust with customers and
suppliers to expand sales, a company statement said.