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Japan – Pasona to acquire majority stake in one of Panasonic’s non-staffing businesses

02 October 2014

Japanese recruitment firm Pasona has reached an agreement to acquire 66.5% of the total share capital of Panasonic Business Services Co., a wholly owned subsidiary of electronics giant Panasonic.

Panasonic Business Services offers a variety of services; including providing 24-hour office security in the shape of security guards and electronic back-up systems, enhancing office productivity, smart media solutions, and IT-enhanced business improvement processes.

The sale, which is expected to be agreed by the end of December and finalised in March 2015, will reportedly net Panasonic several billion yen (one billion yen is approximately equivalent to 9.2 million US dollars).

This marks the second sale by Panasonic, as it moves to refocus its business operations. The company is also looking to sell its staffing subsidiary Panasonic Excel Staff, which is currently in the second round of bidding. Earlier this week, it was rumoured that Randstad was bidding for this business.