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Sanyo Appoints New President

10/24/2007 02:00:00 AM Eastern

San Diego — Sanyo North America Corporation has named Masami Murata the company’s new president, replacing Hideo Nakai.

The management change is part of an ongoing structural transformation that was initiated globally during the second quarter of this year, according to a company release.

The structural changes are part of a larger cost-cutting campaign for the company and its parent, Sanyo Electric, which resulted in lower net losses for Sanyo Electric’s most recent fiscal year, ended in March.

Murata, a native of Fukuoka, Japan, has been an executive with Sanyo for more than 33 years. He is expected to continue his role as president of Sanyo Energy (USA) Corporation, a subsidiary of Sanyo North America Corporation based in Frisco, Texas.

“I am deeply honored to be given this new assignment,” Murata said in a statement. “I look forward to working with all Sanyo North America employees, customers and suppliers to maximize our unique assets and opportunities.”

Aaron S. Fowles, a coordinator at Sanyo Electric, told TWICE: “Sanyo is working to further expand its core businesses in North America, such as the rechargeable batteries business, solar panel business and commercial equipments business, and as Mr. Murata works also as the top the rechargeable battery business, he was deemed appropriate for the job. While this does not mean that Sanyo is placing less emphasis on other consumer products, it is just another means to help realign the company under the restructuring plan currently in place, to become a leading provider of environment- and energy-related products and services.”

Sanyo North America Corporation is the corporate North America regional headquarters for its parent company, Sanyo Electric Co., Ltd.