Connect with us

Hi, what are you looking for?

New Products

Kyocera To Buy Sanyos Mobile Phone Business

Kyocera Reaches Definitive Agreement to Acquire Mobile Phone Business of SANYO Electric Co., Ltd.

Kyocera Corporation (NYSE:KYO) (“Kyocera;” President: Makoto Kawamura) today announced that it has reached a definitive agreement with SANYO Electric Co., Ltd. (“SANYO”) to acquire SANYO’s mobile phone business. The agreement was approved by both companies’ boards of directors today and is planned to become effective April 1, 2008.

Kyocera’s goal for the acquisition is to strengthen its global telecommunications equipment business. Under the agreement, Kyocera acquires a comprehensive set of assets from SANYO relating to the research, development, design, materials procurement, manufacture, sales and marketing of CDMA handsets; PHS handsets; PHS base stations; and wireless communications systems; as well as a range of related technologies, intellectual property and patents. The acquisition is forecasted to grow worldwide annual revenues from Kyocera’s global telecommunications equipment business to approximately 400 billion Japanese yen (approximately US$3.7 billion).

“This transaction will yield great synergies and economies of scale in areas such as technology portfolios, R&D, procurement, design, marketing and sales,” said Makoto Kawamura, president of Kyocera Corporation, the group’s global parent. “Furthermore, the Kyocera and SANYO product portfolios are highly complementary, and will allow us to offer a broader lineup of handsets and data devices to all of our carrier customers.”

To ensure a smooth transition in the market, Kyocera plans to offer both Kyocera- and SANYO-branded products in Japan and abroad for the foreseeable future. Kyocera also plans to offer continued employment to all affected SANYO employees, totaling approximately 2,000 workers.

Kyocera will pay cash for the unit. The acquisition price will be determined through finalizing processes after April 1, 2008, based on the unit’s total business value of 50 billion Japanese yen (approximately US$467 million) as agreed upon by Kyocera and SANYO, before subtracting the unit’s notional business cash equivalent on hand and adding/deducting interest-bearing transfer debt and transfer cash equivalents as of April 1, 2008, as well as adjustment items agreed to separately, which could result in a final acquisition price approximating 40 billion Japanese yen (about US$375 million).

In North America, the acquisition will result in the creation of a new wholly-owned Kyocera subsidiary on April 1, 2008 that will assume the operations of the U.S.-based SANYO business units and will commence operations separate from San Diego-based Kyocera Wireless Corp., in order to maintain immediate continuity with its existing distribution network.

About Kyocera
Kyocera Corporation (NYSE:KYO) (http://global.kyocera.com), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of advanced ceramics. By combining these engineered materials with metals and plastics, and integrating them with other technologies, Kyocera has become a leading supplier of telecommunications equipment, semiconductor packages, electronic components, laser printers, copiers, solar energy systems and industrial ceramics. During the year ended March 31, 2007, Kyocera Corporation’s consolidated net sales totaled approximately US$10.8 billion (JP Yen 1,283,897 million) with net income of approximately US$895 million (JP Yen 106,504 million).

About Sanyo
SANYO Electric Co., Ltd. is a leading solutions provider for the environment, energy and lifestyle, based on its Brand Vision ‘Think GAIA.’ SANYO’s businesses cover a broad range of products and services such as rechargeable batteries, photovoltaic systems, HVAC/R equipment, digital imaging devices, telecommunications equipment, home appliances, electronic components and others. For further information, please visit SANYO’s web site at http://www.sanyo.com.

Advertisement. Scroll to continue reading.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Latest Products

Sharp TIVO TV Lifestyle Man View

HDTV 4K & 8K TV

Would you buy a 55-inch Sharp 4K TV with built-in TiVo for $299.99? Let's take a look at what it offers.

Bang & Olufsen Beosound Balance Natura Wireless Speakers Bang & Olufsen Beosound Balance Natura Wireless Speakers

New Products

This convergence of Danish Hi-Fi and some of the finest Italian stone or petrified wood will not be cheap. And that was before the...

Advance Paris Link Cables Advance Paris Link Cables

Audio Cables

High-end cables made in France? Do British and American manufacturers need to be concerned? The Advance Paris LINK have us excited to try them.

https://www.audioadvice.com/products/kaleidescape-strato-c-4k-ultra-hd-movie-player?referral=ecoustics Strato M Movie Player https://www.audioadvice.com/products/kaleidescape-strato-c-4k-ultra-hd-movie-player?referral=ecoustics Strato M Movie Player

New Products

At only $1,995, Strato M is Kaleidescape's lowest cost movie server/player, but there is a catch.

Sony's new 2025 model year BRAVIA TVs Sony's new 2025 model year BRAVIA TVs

HDTV 4K & 8K TV

Last month, we got a sneak peek at Sony’s new BRAVIA 4K TVs. Here’s what’s coming down the pike this year.

Sony BTAVIA Projectors - 2025 Sony BTAVIA Projectors - 2025

New Products

Sony just brought its most powerful video processor for projectors down to what should be a much more affordable price point.

Gift Ideas?

Cost-no-object Audiophile Gear

Floorstanding Speakers

When money is no-object in building a high-end audio system, this is the audiophile gear you'll want to check out first.

You May Also Like

Advertisement

ecoustics is a hi-fi and music magazine offering product reviews, podcasts, news and advice for aspiring audiophiles, home theater enthusiasts and headphone hipsters. Read more

Copyright © 1999-2024 ecoustics | Disclaimer: We may earn a commission when you buy through links on our site.



SVS Bluesound PSB Speakers NAD Cambridge Audio Q Acoustics Denon Marantz Focal Naim Audio RSL Speakers