The Japanese business newspaper Nikkei reports that Panasonic has reached a deal to buy rival company Sanyo, together creating what might be Japan’s largest electronics company. Panasonic—which has just completed transitioning from the corporate name Matsushita—will reportedly keep Sanyo as a brand name, and will maintain most of Sanyo’s employees.
According to Nikkei, a formal announcement is expected November 7, and the deal will have Sanyo rolled into Panasonic by April of 2009. Nikkei did not disclosed where it obtained the information.
