Sanyo Electric Co - A Panasonic Subsidiary Recognized Globally as a Trusted Source for Consumer Electronics, Dry Batteries, and Cell Phones
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Sanyo Electric Co. is a global electronics company that is listed on the Fortune Global 500. In The name literally means three oceans, which denotes the vision of the company to conduct global business across the Atlantic, Pacific, and Indian Oceans. 2009, Sanyo was acquired by Panasonic Corporation, a household name, for a total of $4.5 billion and an initial 50.2% share of the company. The subsequent year, Panasonic acquired the remaining shares of the company. Sanyo is currently a subsidiary of Panasonic and is publicly traded on the Tokyo Stock Exchange. The company was founded in 1951 and today has headquarters in Osaka, Japan and Watford, United Kingdom. It specializes and is most known for consumer electronics, dry batteries, and cell phones. It reported annual revenue of 1.4 trillion yen, net income of 35.1 billion yen ($341 million) and 1.1 trillion yen ($11.2 billion) in total assets as of 2011. Sanyo employs 104,882 people.
Sanyo is most notably known for several products that it introduced to the market, including the MBC-550 PC in 1984, the cheapest PC available at the time. It produced CDMA cell phones for the Sprint PCS brand in the US and for Bell Mobility in Canada. In 2008, however, their cell phone division was sold to Kyocera and one-third of all their employees were laid off as a result. Two years later in 2010, Sanyo sold its semiconductor division to ON semiconductor, with Panasonic acquiring the company that same year. Sanyo has had several setbacks, including their failed bid to support Toshiba’s HD DVD over Sony’s Blue-ray and a 2004 earthquake that damaged manufacturing plants and caused significant financial losses.
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