Panasonic's planned sale of its projector and display business has collapsed, despite the early unveiling of its new brand, Mevix. With no official statement yet, the company appears set to continue independently – for now.
Panasonic: Projector Business Sale Collapses
According to the Japanese financial newspaper Nikkei Asia, the deal between Panasonic and the Japanese investment firm Orix to take over Panasonic’s ProAV business has fallen through, as the two sides were unable to agree on key terms.
Orix had planned to acquire an 80% stake in the newly formed company, Panasonic Projector & Display Corporation, in a deal valued at 800 million euros. The process was already underway: in April, the projector division was spun off into a separate company, and in June, a new sub-brand called “Mevix” was introduced at Infocomm. The new company had also already announced its first display product line.
However, Nikkei reports that disagreements over growth forecasts and other financial projections caused the talks to break down.
Panasonic remains the sole shareholder for now
There is no official statement from the company yet, but it is likely that Panasonic will continue to operate the business independently for the time being. In the 2024 financial year, the division generated around 350 million euros in sales, with 80% coming from outside Japan.
