On March 22, according to foreign media reports, Matsushita said on Tuesday that it has agreed to become the controlling shareholder of Spanish auto parts manufacturer Ficosa International SA. Panasonic is currently working hard to enter the automotive field.
Panasonic will acquire a 20% stake in Ficosa from its major shareholder, Ficosa Inversion, bringing its shareholding to 69%. Panasonic acquired a 49% stake in Ficosa in 2015.
Panasonic did not disclose the amount of the transaction, saying the transaction is expected to be completed by the end of April, depending on regulatory approval.
Matsushita said it is expected that the transaction will not have a significant impact on profitability.
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