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Sanyo Electric Co., Ltd., of Osaka, Japan, today stated that it does not plan to stop production of household appliances, as was reported in an October 22 news item.
On Saturday, the Kyodo News agency and Tokyo Shimbun reported claims by unnamed company sources that Sanyo would stop making appliances as a part of its restructuring efforts. The reports' sources went so far as to claim that Sanyo was in the "final stage" of deciding on the closure of plants and making arrangements to purchase appliances from Chinese and Taiwanese sources to sell under the Sanyo brand name.
"Those reports are mistaken," said this morning's Sanyo statement. "There is currently no plan to stop making household appliances. We regret that the articles gave the impression that SANYO would be closing household appliances factories and laying off employees in such business divisions."
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