The logo of Sanyo Electric Co. was removed from its headquarters and will now be replaced by that of Panasonic.
Sanyo Electric Co., a company that has been losing its identity, got closer to its extinction when its logo was removed from the outer wall of its headquarters in Moriguchi, Osaka Prefecture. On December 23, workers removed the gigantic sign from the company building that was built in 1999. Each letter that was 3 meters tall and 9 meters wide was removed one after another from the 10th floor with the help of a crane.
"I will miss it but both Sanyo and Panasonic are local companies (based in Osaka prefecture). I hope the group will do its best in unity," a nearby resident said.
Sanyo Electric Co. was taken over by Panasonic Corp. a couple of years ago after it had incurred a lot of debts. Panasonic was a rival of Sanyo and the latter's performance had been deteriorating consistently. In all probability, all logos of Sanyo will now be replaced by those of Panasonic.
A major reshuffle is going to take place on January 1 wherein many operations of Sanyo will merge with those of Panasonic. By the time it is spring, all Sanyo products will become Panasonic's offerings.
On December 21, 2009, Panasonic bought half of Sanyo's shares by signing a deal worth US$ 4.5 billion. Later, it disclosed its intention of acquiring the remaining shares as well. Sanyo, however, will always be remembered for its rare achievement of constructing the Solar Ark.