Sony to Negotiate Selling Most of Its Battery Business to Murata, Says SEC Filing
Sony will negotiate the sale of most of its battery business to Murata under a nonbinding memorandum of understanding signed by the two companies, Sony said in a 6-K disclosure Thursday at the SEC. Sony expects to incur a loss…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
on the sale, but it won’t disclose that loss in an earnings forecast it plans to release Friday because the amount won’t be known until it signs definitive agreements “in the future,” the 6-K said. Sony expects to sign those definitive agreements in October and complete the sale to Murata by March, it said. The consumer operations of Sony-branded USB batteries, alkaline batteries, button and coin batteries, and mobile projectors won't be included in the sale, it said. Sony launched its battery business in 1975 and commercialized the world’s first lithium-ion battery in 1991, it said. “Until now, Sony has continued to pursue the development and business launch of various advanced battery products, primarily as key components for electronics products,” it said. “Recently, Sony has focused on enhancing the profitability of its lithium-ion polymer battery business for smartphones, an area where the competitive environment is significantly changing.” The company also shifted its resources to commercializing cylindrical lithium-ion batteries for power tools and “other high-power applications where it possesses significant technological advantages,” it said.