page_title: Sanyo
section_title: Acquisition
hierarchical_section_title: Sanyo / History / Acquisition
caption_attribution_description: English: Sanyo M9998LU, manufactured circa 1979-80 in Japan - this is the European version of the M9998. Unlike the US M9998, it has the Long Wave band, only one Short Wave and fine tuning for all AM bands. Also it has a DIN socket for REC in/out and RCA sockets only for phono/pick-up. 2 x 8 W RMS, 2 way speakers. Dolby B for REC/Playback and Automatic Music Search System. Operates on 10 D Cell batteries, external power adapter or 230/115V mains. This unit has been customized - the incandescent bulbs have been replaced with LEDs.
context_page_description: Sanyo Electric Co., Ltd. is a Japanese electronics company and formerly a member of the Fortune Global 500 whose headquarters was located in Moriguchi, Osaka prefecture, Japan. Sanyo had over 230 subsidiaries and affiliates. Sanyo was founded by Toshio Iue.
  On December 21, 2009, Panasonic completed a 400 billion yen acquisition of a 50.2% stake in Sanyo, making Sanyo a subsidiary of Panasonic. In April 2011, Sanyo became a wholly owned subsidiary of Panasonic, with its assets integrated into the latter's portfolio.
context_section_description: The 2004 Chūetsu earthquake severely damaged Sanyo's semiconductor plant and as a result Sanyo recorded a huge financial loss for that year. The 2005 fiscal year financial results saw a 205 billion yen net income loss. The same year the company announced a restructuring plan called the Sanyo Evolution Project, launching a new corporate vision to make the corporation into an environmental company, plowing investment into strong products like rechargeable batteries, solar photovoltaics, air conditioning, hybrid car batteries and key consumer electronics such as the Xacti camera, projectors and mobile phones.
  Sanyo posted signs of recovery after the announcement of positive operating income of 2.6 billion yen. Sanyo remains the world number one producer of rechargeable batteries. Recent product innovations in this area include the Eneloop Low self-discharge NiMH battery, a "hybrid" rechargeable NiMH (Nickel-metal hydride battery) which, unlike typical NiMH cells, can be used from-the-package without an initial recharge cycle and retain a charge significantly longer than batteries using standard NiMH battery design. The Eneloop line competes against similar products such as Rayovac's "Hybrid Rechargeable" line.
  On November 24, 2006, Sanyo announced heavy losses and job cuts.
  Tomoyo Nonaka, a former NHK anchorwoman who was appointed chairwoman of the company, stepped down in March 2007. The President, Toshimasa Iue,  also stepped down in April of that year; Seiichiro Sano was appointed to head the company effective April 2007.
  In October 2007, Sanyo cancelled a 110 billion yen sale of its semiconductor business, blaming the global credit crisis for the decision and stating that after exploring its other options, it had decided to keep the business and develop it as part of its portfolio.
  In 2008, Sanyo's mobile phone division was acquired by Kyocera.
  On November 2, 2008, Sanyo and Panasonic announced that they have agreed on the main points of a proposed buyout that would make Sanyo a subsidiary of Panasonic. They became a subsidiary of Panasonic on December 21, 2009.
  In 2010, Sanyo sold its semiconductor operations to ON Semiconductor.
  On July 29, 2010, Panasonic reached an agreement to acquire the remaining shares of Panasonic Electric Works and Sanyo shares for $9.4 billion.
  By March 2012, parent company Panasonic plans to terminate the Sanyo brand, however it will remain on some of the products where the Sanyo brand still holds value to consumers.
  In August 2013, a 51% majority stake in Chinese company Hefei Royalstar Sanyo, a 2000 joint venture between Japanese Sanyo and Chinese government investment company Hefei, was purchased by American multinational manufacturer Whirlpool Corporation for $552 million.
caption: A Sanyo M9998LU Boombox manufactured circa 1979-80 for the European market with user customized dial and tape lights.
exif: {}