Panasonic Connect Co., Ltd. today announced that it has reached an agreement on a “strategic capital partnership with ORIX Corporation” in regards to the company’s projector business and related operations. The two companies say they plan to establish a new company to operate the business aiming for continued growth. This decision was made Wednesday at the board of directors meeting of Panasonic Holdings Corporation.
Together with ORIX, Panasonic Connect will establish a new company based on its Media Entertainment Business Division (MEBD), aiming for further growth of the business. Regarding the new company, ORIX will hold 80% of the shares, and Panasonic Connect will hold 20%. After the capital partnership, target products will continue to carry the Panasonic brand, and the new company will also use the Panasonic name for the time being.
In April 2025, the new company will be established out of the Media Entertainment Business Division of Panasonic Connect. Additionally, overseas subsidiaries will be established from the sales functions of that division in North America, Europe, China, Australia, Singapore and other regions to be operated by the new company. In Japan, Panasonic Connect’s Gemba Solutions Company will continue to handle domestic sales.