Panasonic Holdings in Japan has announced that it will sell its entire stake in Panasonic Automotive Systems (PAS) to funds managed by U.S. private equity firm Apollo Global Management. The deal, worth 311 billion yen ($2.06 billion), is expected to be completed by the end of the first quarter of 2025, according to Apollo’s statement. Additionally, Panasonic will acquire a 20% stake in Star Japan Holdings, which will own the new parent company of PAS, ensuring that the automotive business maintains its strategic relationship with the Panasonic Group. There are also plans for potentially listing the business in the future, as noted by Panasonic.

In another move, Panasonic’s unit Blue Yonder has announced that it will acquire U.S. digital supply chain network supplier One Network Enterprises for $839 million. This deal is expected to be finalized in the July-September quarter of 2024. With these strategic moves, Panasonic is reshaping its portfolio to strengthen its presence in the automotive and digital supply chain sectors while continuing to seek opportunities for growth and expansion in key markets globally.