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Panasonic says it will sell semiconductor business to Taiwan's Nuvoton

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By Reuters
Panasonic says it will sell semiconductor business to Taiwan's Nuvoton
FILE PHOTO: A man is reflected on Panasonic Corp's logo at Panasonic Center in Tokyo, Japan, February 2, 2017. REUTERS/Kim Kyung-Hoon/File Photo   -   Copyright  Kim Kyung Hoon(Reuters)
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TOKYO (Reuters) – Panasonic Corp <6752.T> said on Thursday it would sell its loss-making semiconductor unit to Taiwan’s Nuvoton Technology Corp <4919.TW>, as the Japanese electronics giant struggles to boost profits amid a lack of growth drivers.

The deal value was not immediately available.

(Reporting by Makiko Yamazaki; Editing by Shri Navaratnam)