Panasonic Industrial Devices Co., Ltd. announced today its decision to transfer its automotive motor business, including cooling fan motor operations, to MinebeaMitsumi Inc., with the transfer agreement scheduled for signing tomorrow. The primary reason cited for this divestment is the company's strategic shift toward its "Materials and Process Business." Panasonic stated that transferring these operations to the most suitable owner is essential to strengthen future competitiveness. Prior to the business transfer, Panasonic will undertake a reorganization of the affected operations.
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