TOKYO: Japan’s electronics giant Panasonic will sell the plant where it first got into the television business half a century ago as it shifts away from the money-losing division, a report said.
The company plans to sell 60 percent of the plant’s 120,000-square metre site in Ibaraki, near the western city of Osaka, to Japan’s major homebuilder Daiwa House by early next year, the business daily Nikkei said. The price tag is estimated at 10bn yen ($97m).
Daiwa House is expected to build a large-scale logistics facility at the site and lease it to parcel delivery company Yamato Holdings Co. Panasonic is also considering selling the remaining 40 percent of the site to the municipal administration of Ibaraki and its homebuilding unit, PanaHome. AFP
