Japanese electronics company on: "outliers" and Sanyo - HC network appliance industry-hc36

Japanese electronics company on: "outliers" and Sanyo - HC network appliance industry-hc36

Ongoing turmoil in recent years, Sanyo, its abjection Japanese electronics firms to become one of the most concern, not only the debt, and loss of autonomy, into a split by major shareholders to sell the position. Sanyo dissolution, can be said that Sumitomo Mitsui, Daiwa Securities and Goldman Sachs in the global capital in a carnival feast. 2007 5 months, with the hands of the U.S. financial predators Goldman Sachs, General Electric, got his wish, get a Sanyo Electric Credit Corporation of all of the shares. In the preceding months, Goldman Sachs wrote to the well-known private equity funds and semiconductor giant, inviting them to participate in the auction Sanyo semiconductor sector, the auction reserve price was 8.52 million. Buyers on the list, not only Blackstone and Carlyle, and other financial speculators, including Hitachi from Japan (Fuji is a consortium) and Mitsubishi Electric (Mitsubishi is a consortium), a joint venture, "Renesas", and Hyundai consortium Hynix Semiconductor and other giants. Addition to other semiconductors, is also a key sector of the home appliances sector Sanyo could not escape the misfortune of being dismembered. June 20, 2007, Sanyo officially be the largest refrigerator factory?? Thailand factory and sold to China's Haier. As early as the end of 2006, Sanyo Electric announced that SANYO EPSON its own shares of the company were transferred to the joint venture partner Seiko EPSON, from the liquid crystal display panel completely out of the market. Earlier time, Sanyo has given up machines and cassette recorders DVD business. This time, SANYO's disintegration, can be said that Sumitomo Mitsui, Daiwa Securities, and Goldman in the global capital in a carnival feast. Dismembered Eve At the end of March 2004 in the fiscal year, Sanyo's seven subsidiaries to reach 190 billion yen loss (15.6 billion). October 2005, GE proposed to acquire Sanyo Sanyo Electric Credit program. At that time, Sanyo is working with Sumitomo Mitsui Financial Group, Japan to negotiate. However, neither the final Sanyo Electric Credit into GE capsule, there is no income to Mitsui, but the United States by Goldman Sachs caught this big sparrow. 2005 12 months, Sanyo Sanyo Electric Credit will be its share of the company transferred to a wholly-owned subsidiary of Goldman Sachs, to Sanyo Sanyo Electric Credit's stake reduced to 19.1%, then further reduced to 16.7%. In exchange for investment in Goldman Sachs on the Sanyo, Sanyo, Sanyo Electric Credit had to sell most of stake in Goldman Sachs. In 2005, to 33 billion yen Goldman Sachs gained 42% of Sanyo Electric Credit equity, is still holding 35%. 2006 3 months to ease the financial tensions, Sanyo to Sumitomo Mitsui Financial Group, Daiwa Securities SMBC Company and Goldman Sachs preferred stock private placement. Sumitomo Mitsui Sanyo just want to invest initially, which unexpectedly pulled to the Goldman Sachs. Sanyo to raise a total of 3,000 billion yen (2,564,000,000 U.S. dollars) of funds. In exchange, Mitsui Sumitomo, Daiwa Securities SMBC and Goldman won a Sanyo 60% of the voting rights, in the Sanyo board of eight directors, a director of three companies accounted for sending 5. Goldman Sachs Group, the successful completion of these transactions, because of its investment in Sumitomo Mitsui Financial Group. The latter company with thousands of banking business in Japan, and with Mitsui and Sumitomo both comprehensive trading platform to trade and investment with Mitsui and Sumitomo consortium of manufacturers formed close ties. Sumitomo Mitsui Financial Group, Sanyo Electric is actually the main creditors. Goldman Sachs Group, Sanyo Electric stock purchased when it is held by Sumitomo Mitsui Financial Group preferred stock, if converted into common stock, equivalent to 7.4% of the shares of the company. In fact, Sumitomo Mitsui, Daiwa Securities SMBC and Goldman Sachs in many years and have forged close ties, their relationship is unusual, is a Peihemoqi a "community of interests." January 2003, Sumitomo Mitsui Financial Group, Goldman Sachs issued to the U.S. 150 billion yen

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