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Panasonic to Absorb Power Tools Subsidiary

December 28, 2012
Panasonic Corp. (Osaka, Japan) plans to agreement to absorb Panasonic Eco Solutions Power Tools Co., Ltd. a wholly owned subsidiary, effective April 1, 2013.

The subsidiary, established in 2009, manufactures and sells rechargeable power tools. It had net sales, as of Sep 30, 2012, of 6,196 million yen (approx. US$72 million) and had a loss of 174 million yen (approx. $2 million).
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