Sanyo to Sell Digital Camera Business
Sanyo Electric Co Ltd will sell its digital camera and digital movie camera businesses.
The company will transfer all the stock of Sanyo DI Solutions Co Ltd, which is Sanyo Electric's wholly-owned subsidiary and in charge of the two businesses, to AP26 March 31, 2013. AP26 is a special-purpose company sponsored by a fund run by Advantage Partners, which is an investment company.
Sanyo Electric's digital camera business deteriorated due to a growing competition in the market and price drop caused by the competition. In fiscal 2011, its sales figure dropped by about 20% on a year-over-year basis.
The company spun off the digital camera and digital movie camera businesses July 1, 2012, and has strengthened them in the aim of speeding up decision making and establishing a strong fire wall. For the future, it plans to proactively expand the businesses under Advantage Partners, which has much experience in investment, Sanyo Electric said.