Osaka, Japan -
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.