According to Tech-On!, Sanyo Electric Co., Ltd. has announced it will liquidate three subsidiaries in the second half of 2007: Sanyo Haier Co., Ltd., which markets Chinese leading home appliances manufacturer Haier Co., Ltd.’s products in the Japanese market; Tottori Sanyo Electric (Shenzhen) Co., Ltd., which manufactuers semiconductor lasers and light-emitting diodes (LEDs) in China; and Sanyo Educations Co., Ltd., which engages in HR education business targeting human resources both inside and outside the company. Sanyo will liquidate Sanyo Haier in August, Tottori Sanyo Electric (Shenzhen) in October and Sanyo Educations in July 2007.
Sanyo said that Haier Sanyo Co., another joint venture between Sanyo and Haier that develops and manufactures refrigerators, will survive, reports Tech-On! Also Torrori Sanyo Electric, the parent of the above Chinese subsidiary, will continue business. The three subsidiaries employ about 20 people; Sanyo said that the impact of the closings on the group’s earnings is to be minimal.
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