OSAKA —
Sanyo Electric Co said Thursday it will sell its semiconductor unit Sanyo Semiconductor Co to U.S. chip maker ON Semiconductor Corp’s wholly owned subsidiary. The sale is Sanyo Electric’s second restructuring move after it became a subsidiary of Panasonic Corp last December, following the sale of its distribution unit announced in May.The deal is worth about 33 billion yen including loan credits and others. Sanyo Electric plans to acquire 11.6 billion yen in cash and ON Semiconductor shares worth 21.4 billion yen. With the deal, the U.S. firm, which has a Japanese unit in Kitakata, Fukushima Prefecture, is apparently aiming to expand its presence in Japan.
