Panasonic in possible Sanyo buyout

Electronics giant bidding to become 'battery superpower'

Panasonic in Sanyo takeover bid

Panasonic is intending to buy rival electronics firm Sanyo, if sources are to believed.

The decision to consolidate the two Japanese firms will be welcomed by Sanyo, who was on the brink of collapse just two years ago.

If the deal goes through, Panasonic would become Japan's biggest electronics company.

The Times is reporting that sources have told the paper, one of the main reasons Panasonic may want to take over Sanyo is because of the company's battery assets.

The growth of lithium-ion battery use in the coming years is set to be substantial, due to the technology being integrated into things like electric cars and scooters.

Main rival to Sony

Although the deal is not expected to be completed until next April, it would see the company as a main battery rival to Sony.

The proposed takeover is just one of many investments Panasonic has made recently, with the company putting around £6.2billion aside for further investments.