Panasonic Corp. said Dec. 21 it will take direct ownership of conductive polymer capacitor maker Panasonic Precision Devices Co. Ltd. through a split-and-merger arrangement.
Panasonic Precision Devices, or PPRD, will split from current parent Panasonic Equity Management Japan Co. Ltd., or PEMJ, which will be dissolved. PPRD will then become a wholly-owned consolidated subsidiary of Panasonic.
The company plans to execute both the split and the merger April 1, 2019.
Panasonic said it does not expect the move to have a material effect on its consolidated financial outlook for the fiscal year ending March 31, 2019.
The Osaka-based consumer electronics maker cited increasing demand for information-communication infrastructure applications as the reason for the arrangement.