Today SANYO Electric Co., Ltd. (SANYO) disclosed the decision to transfer stocks of Telecom SANYO Co., Ltd., a subsidiary company which operates mobile phones sales agents across Japan.
Please note that reports in the media today that SANYO would sell its entire mobile phone handset business have no connection whatsoever to the disclosure today concerning the sale of Telecom SANYO Co., Ltd. Regarding the mobile phone handset business (excluding the mobile phone sales agents), SANYO is considering all possibilities for development and growth. These media reports were not based upon an official announcement by SANYO and it is not a fact that SANYO has made a decision to sell this business.
When SANYO deems it necessary to publicly disclose the facts surrounding business decisions, it will do so promptly.