Panasonic Corporation is to acquire an additional 20% of shares in Ficosa International, which is a global tier1 full-service supplier of automotive parts and systems. Panasonic currently has a 49% stake in the issued shares of Ficosa, and this acquisition of additional shares will make Ficosa a consolidated subsidiary of Panasonic.
The objective of making Ficosa a Panasonic’s subsidiary is to reach sales of two trillion yen in its automotive business in fiscal year ending March 31, 2019, and is proceeding with initiatives targeting growth in the areas of ‘Comfort’, ‘Safety’ and ‘Environment’.
The companies are also working together to develop products such as Next-generation cockpit systems and Advanced driver assistance system (ADAS), which will facilitate business expansion in fields where future growth is anticipated.
The business partnership has fostered a deep mutual understanding between both companies, and has led to Panasonic’s decision to speed up synergies between both companies, especially in the areas of connectivity, autonomous driving, safety systems for increasingly assisted driving and e-mobility, which it believes will further raise each company’s long-term corporate value.