Sanyo Electric to Sell Nickel-Hydrogen Business, Yomiuri Says

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By Tak Kumakura

Oct. 28 (Bloomberg) -- Sanyo Electric Co. will sell a subsidiary that makes nickel-hydrogen batteries used in personal computers and video-game machines, the Yomiuri newspaper said.

Sanyo, which will be acquired by Panasonic Corp., must sell the business because the merged company would dominate the market. Osaka-based Sanyo will probably announce the sale today, the newspaper said.

The unit, which generates annual sales of about 36 billion yen ($392 million), will be sold to a Japanese electronics parts maker, the newspaper reported, without identifying the buyer or providing the price.

Sanyo will continue to produce nickel-hydrogen batteries used for hybrid vehicles. The newspaper didn’t say who provided the information.

Sanyo Electric to Sell Nickel-Hydrogen Business, Yomiuri Says - Bloomberg.com