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Panasonic says exploring options for semiconductor business

Japanese electronics giant Panasonic said media reports on talks over the merger of its semiconductor operations are not “official,” but it is studying “various options.”

Various media reports, quoting unnamed sources, said Renesas Electronics, Fujitsu Ltd and Panasonic are in talks to merge their chip operations

The talks follow a similar move by Sony, Toshiba and Hitachi in November to integrate their small LCD display panel business to cut costs.

“The media report is not on any official announcements by Panasonic. Though the company has been studying various plans for growth strategy of the business, nothing has been decided,” Panasonic said.

According to the media reports, the U.S.-based Globalfoundries will also be involved in the deal, helping the companies produce the chips.

Japanese companies have been hit hard by an appreciation in the value of the local currency, the Yen.

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