LEAD: Sanyo Electric to spin off unprofitable chip business+
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[March 30, 2006]

LEAD: Sanyo Electric to spin off unprofitable chip business+

(Japan Economic Newswire Via Thomson Dialog NewsEdge)OSAKA, March 30_(Kyodo) _ (EDS: ADDING GREATER INFO)

Sanyo Electric Co. plans to spin off its money-losing semiconductor business in an additional step to improve its dwindling earnings, sources familiar with the matter said Thursday.

The consumer electronics maker may sell the business after reorganizing it, they said.

The spin-off will be announced Friday following a formal decision by the Sanyo board.

The struggling company has already agreed with Quanta Display Inc. of Taiwan to set up a joint venture for flat-screen television sets as part of its effort to restructure unprofitable operations.

The spin-off of the semiconductor division, the biggest money loser in Sanyo, will enable the Osaka-based company to shift its restructuring drive to the household appliance division.

A devastating earthquake in Niigata Prefecture in 2004 cost Sanyo 87 billion yen by seriously damaging its principal semiconductor plant in the prefecture. Although the plant has since reduced production to 70 percent of its peak level and carried out workforce cuts, Sanyo has yet to make a turnaround in its computer chip business by winning back customers from rival makers.



Sanyo incurred a group net loss of 171.54 billion yen in fiscal 2004 to March 31, 2005, due largely to the quake-related loss.

In the year, Sanyo's semiconductor business generated 220 billion yen in consolidated sales with a workforce of 13,000.



The business consists of an in-house company at Sanyo and some 30 affiliates. It has manufacturing plants in Japan as well as other countries including China, South Korea and Thailand.

Mainly producing analogue semiconductors for use in audiovisual equipment such as TVs, the business sells some 90 percent of them to users outside the Sanyo group.

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