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Panasonic CFO: M&A tasks may move to Europe

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Panasonic CFO: M&A tasks may move to Europe

Panasonic Corp. may accelerate overseas takeovers by moving some work related to mergers and acquisitions from its Japanese headquarters to its Dutch unit, The Nikkei Asian Review reported Oct. 3, citing CFO Hirokazu Umeda.

The Osaka-based electronics maker would likely make the subsidiary responsible for identifying and evaluating targets for acquisitions and partnerships, in addition to handling negotiations with investment banks and approving capital investments, according to the report.

The Panasonic unit is tasked with investments in offshore subsidiaries and dividend payments.

The company's investment in the automotive and real estate sectors is picking up, with a plan to invest ¥1 trillion over a four-year period that began in fiscal 2015.

As of Oct. 3, US$1 was equivalent to ¥112.75.