Panasonic spokesperson Megumi Kitagawa said last weekend that Panasonic is considering "multiple options" for the future development of the medical business. She declined to comment on reports that Panasonic may sell its medical business.
"Economic News of Japan" reported at the weekend that Panasonic is considering selling medical services at prices ranging from "tens of billions of yen" to 100 billion yen (about 1.04 billion US dollars), which includes blood glucose monitoring equipment and hearing aids. Reported that private equity funds such as KKR intend to acquire this business from Panasonic.
As Japan's second-largest TV maker, Panasonic is laying off employees and reducing the number of business units. Panasonic expects that due to competition from Apple and Samsung, the net loss for the fiscal year ending March 31 this year will be 765 billion yen (approximately $ 8.06 billion). The sale of the medical business will be part of Panasonic's divestiture of "non-core business".
In the fiscal year ended March 31, 2012, the operating loss of Panasonic's medical business was 8.8 billion yen and revenue was 133.6 billion yen. Earlier this month, Panasonic agreed to sell an office building in Tokyo for about 50 billion yen.
On March 15, Panasonic's stock price in the Tokyo stock market rose 1.9% to 688 yen. Over the past five years, Panasonic's share price has fallen by 67%, while Japan's Topix Index has fallen by 12% over the same period.
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