Today, Panasonic officially announced that it is selling 80 percent of its projector business to Japanese finance group Orix. The new projector and display company will be launched in April 2025.
The official announcement of Panasonic corporation confirms various media reports in recent weeks. Today, the Japanese electronics company announced the sale of the majority of its projector and display division, which has been a part of Panasonic Connect. Together with the investor and financial services provider Orix, Panasonic will form a new company for professional projectors. Orix will hold 80 percent, Panasonic 20 percent. The projectors will continue to carry the Panasonic brand, and the new company will also initially include the Panasonic name.
The plan is to launch the new company at the start of the Japanese fiscal year in April 2025. For this purpose, the Media Entertainment Business Division will be separated from Panasonic Connect – including the large format display business. Panasonic’s own factories in Japan and China will also be transferred to the new company. Visual solutions sales teams will also be transferred to the new company.
International subsidiaries also affected
In addition, visual solution sales units from the international subsidiaries in Europe, America, China, Australia, Singapore, and other regions will be transferred to the new company. In Japan, Panasonic Connect’s Gemba Solutions Company will continue to be responsible for domestic sales.
The sales of the new Panasonic Visual Solution business unit are equivalent to 470 million euros. The value (enterprise value without cash and debt) of the business unit is estimated at the equivalent of 700 million euros.
The projector business is particularly interesting for the Japanese financial group because of its global reach – 90 percent of sales are made outside Japan. By combining its investment capacity and Panasonic’s technical know-how, Orix is aiming to increase the value of the company on a global level. To this end, significant investments will be made in research and development and other companies will be acquired.
