Panasonic has announced plans to sell the first television manufacturing plant it opened, in the region of Ibiraki near the Japanese city of Osaka. As reported by ChannelNewsAsia, the electronics giant will be selling 60% of the 120,000 metre squared plant, at a price of 10 Billion Yen, or $97 Million. The plant has been active with Panasonic for around 50 years, and as the company looks to move away from loss making sectors of its business, the sale of this plant may be crucial. Looking at the sales figures between 2011 and 2013, the company has been dropping in revenue. The multinational clocked in at 8.693 Trillion Yen in 2011, however dropped by just under 1.4 Trillion Yen in 2013, while recording sales of 7.303 Trillion Yen.
The plant has been planned to be sold to the Japanese Homebuilder, Daiwa Home, while the remaining 40% of the plant is still in consideration, with possible plans to sell to the Ibiraki Municipal Administration, and it could be further used for residential purposes.
Source(s): http://www.channelnewsasia.com/news/business/international/panasonic-to-sell/1187146.html
Nikkei
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