NHK had reported in May of this year that Panasonic Holdings had decided to exit its high-end projector business as part of a strategic shift to focus on digital supply chain systems. The company’s responsible business unit, Panasonic Connect, is now said to have sold the projector division to Japanese financial services group Orix for an estimated 100 billion yen ($580 million).
The sale aims to raise funds to expand Panasonic Connect’s systems business, particularly around Blue Yonder, a US-based supply chain software developer acquired by Panasonic in 2021 for over $7 billion.
Panasonic Connect, known for its large-venue projectors used in events like the 2020 Tokyo Olympics, will use proceeds from the sale to strengthen its digital supply chain capabilities. The media and entertainment segment, including projectors, reported 111 billion yen ($705 million) in sales for the last fiscal year. At the Tokyo Olympics Panasonic had deployed 420 large-format LED screens, 1,170 projectors, and 940 broadcast cameras.
This divestment is Panasonic’s largest since it sold Panasonic Automotive Systems to Apollo Global Management. As Panasonic Holdings focuses on growth areas like electric-vehicle batteries, heat pumps, and supply chain management, the systems business of Panasonic Connect is expected to play a crucial role in driving the company’s future earnings.
