Sanyo mobile division to be sold to Kyocera

Sanyo mobile division to be sold to Kyocera

Sanyo Electric has announced their decision to sell their mobile phone production unit to Kyocera.

The deal could be worth around 40 billion yen and would take place in April this year. The final price would include account debts, cash and deposits.

The company said that a transfer of the business to Kyocera would be the ideal solution for both business value and ease of succession.

Kentaro Yamagishi, an executive vice president of Sanyo added in a statement: “Kyocera has said that in addition to highly valuing Sanyo’s excellent human resources, they also highly value Sanyo’s North America client base and Sanyo’s technological development capability. As for the merging of these two businesses, I firmly believe that it will offer a wider spread of both facilities and opportunities to employees.”