Panasonic to absorb wholly-owned subsidiary

Business Dec. 27, 2012 - 05:35AM JST ( 0 )

OSAKA —

Panasonic Corp has announced that it will absorb Panasonic Eco Solutions Power Tools Co, a wholly-owned consolidated subsidiary. This merger is expected to take effect on April 1, 2013.

Panasonic said it aims to expand sales with utilizing the sales channels of the company mainly in Asia and strengthen the cost competitiveness by commonalizing indirect personnel.

BusinessWire