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☆ Panasonic’s auto deal deserves a speedy sequel
  + stars: | 2023-11-22 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Toru Hanai/File Photo Acquire Licensing RightsHONG KONG, Nov 22 (Reuters Breakingviews) - Panasonic’s (6752.T)decision to sell part of its automotive unit suggests CEO Yuki Kusumi’s plans are taking a promising turn. The business, which pioneers technology like infotainment systems for the next generation of internet-connected cars, is a growing but capital-intensive opportunity. Selling a stake to Apollo Global Management (APO.N), with the possibility of a listing later, could help fund faster development without denting Panasonic’s balance sheet or returns. This was an obvious target for Kusumi, who previously led the auto unit. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Toru Hanai, Yuki Kusumi’s, Panasonic’s, it’s, Katrina Hamlin, Francesco Guerrera, Thomas Shum Organizations: Panasonic Corp, Advanced Technologies, Makuhari, REUTERS, Reuters, Apollo Global Management, Sony, Hitachi, Panasonic, X, Walmart, Thomson Locations: JAPAN, Chiba, Japan, HONG KONG, Asia, Rome
☆ Panasonic plans to sell stake in autos business to Apollo Global funds
  + stars: | 2023-11-17 | by ( ) www.reuters.com   time to read: +1 min
A logo of Panasonic Corp is pictured at the CEATEC JAPAN 2017 (Combined Exhibition of Advanced Technologies) at the Makuhari Messe in Chiba, Japan, October 2, 2017. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsTOKYO, Nov 17 (Reuters) - Japan's Panasonic Holdings (6752.T) said on Friday it plans to sell a stake in its automotive systems business to funds managed by U.S. private equity firm Apollo Global Management, and has signed a memorandum of understanding with an Apollo affiliate. Continued investment in the automotive systems business would be necessary to achieve sustained growth for the company amid a rapid shift to electric cars and changes to vehicle architecture, Panasonic said. The automotive unit makes cockpit and electronics systems. It is separate from Panasonic's energy unit that makes batteries for electric vehicles, including those from Tesla (TSLA.O).
Persons: Toru Hanai, Daniel Leussink, David Dolan, Christopher Cushing Organizations: Panasonic Corp, Advanced Technologies, Makuhari, REUTERS, Rights, Japan's Panasonic Holdings, U.S, Apollo Global Management, Apollo, Panasonic, Thomson Locations: JAPAN, Chiba, Japan, Tokyo
☆ Japan's Denso, Mitsubishi Electric to invest $1 bln in Coherent's silicon carbide unit
  + stars: | 2023-10-10 | by ( ) www.reuters.com   time to read: +2 min
A logo of Mitsubishi Electric Corp is pictured at the CEATEC JAPAN 2017 (Combined Exhibition of Advanced Technologies) at the Makuhari Messe in Chiba, Japan, October 2, 2017. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsOct 10 (Reuters) - Coherent (COHR.N), a major U.S. supplier of materials used to make chips for the automotive industry, said on Tuesday Japan's Denso (6902.T) and Mitsubishi Electric (6503.T) will invest $1 billion in the company's silicon carbide business. Denso and Mitsubishi Electric will invest $500 million each in exchange for a 12.5% non-controlling ownership interest in Coherent's unit, as per the agreement. The investment would alleviate the financial burden for Coherent, which had explored strategic review of its silicon carbide business in May. Chips made with silicon carbide are used in applications that require massive quantity of power conversion such as inverters and drivetrains in electric vehicles.
Persons: Toru Hanai, Denso, Takemi, Priyamvada, Sherry Jacob, Phillips Organizations: Mitsubishi Electric Corp, Advanced Technologies, Makuhari, REUTERS, Mitsubishi Electric, Mitsubishi, Reuters, Hitachi Ltd, Sumitomo Electric Industries Inc, Thomson Locations: JAPAN, Chiba, Japan, U.S, Pittsburgh , Pennsylvania, Bengaluru
☆ Japan's Fujitsu, Riken develop second quantum computer
  + stars: | 2023-10-05 | by ( Sam Nussey Miho Uranaka | Sam Nussey | Miho Uranaka | ) www.reuters.com   time to read: +1 min
REUTERS/Toru Hanai//File Photo Acquire Licensing RightsTOKYO, Oct 5 (Reuters) - Fujitsu (6702.T) and research institute Riken on Thursday announced the successful development of Japan's second quantum computer, as part of research efforts around the world to make the nascent technology practical. The 64 qubit quantum computer from Fujitsu and state-backed Riken will be integrated with a 40 qubit quantum computer simulator, as researchers work to eliminate the errors which prevent such systems from providing accurate results. IBM last year launched a 433 qubit quantum computer. Qubits, or quantum bits, are a measure of the power of quantum computers, which use quantum mechanics. China, the U.S. and allied industrial democracies are in a race to take a lead in advanced technology including quantum computing, with President Joe Biden moving to hamper some U.S. investment in Chinese efforts to develop the technology.
Persons: Toru Hanai, Shintaro Sato, Joe Biden, Sam Nussey, Miho Uranaka, Stephen Coates Organizations: Fujitsu, Advanced Technologies, Makuhari, REUTERS, Rights, IBM, Thomson Locations: CEATEC, JAPAN, Chiba, Japan, China, U.S
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