Nishimura & Asahi has advised Panasonic Connect, a subsidiary of Japan’s Panasonic Holdings, on a strategic capital partnership with ORIX for its projector business.
Under the agreement, Panasonic Connect's projector and display business will be transferred to a new company jointly owned by ORIX (80 percent) and Panasonic Connect (20 percent). The transfer, valued at 118.5 billion yen ($1.07 billion), is expected to be completed by April 2025.
The new entity will leverage Panasonic Connect's advanced technological capabilities in high-brightness projectors, a market where it currently holds the global top share, the company said.
Meanwhile, ORIX said it aims to enhance its global business value by combining its investment expertise with Panasonic Connect's technology and customer base. The move marks ORIX's entry into carve-out investments, reflecting its strategy to contribute to Japan's industrial development.
The Nishimura team advising Panasonic Connect was led by partners Tatsuya Tanigawa and Makoto Shimizu from the corporate/M&A practice, Satoshi Niki from the IP practice, and Kazumaro Kobayashi from the competition/antitrust law practice. The team also included partners Masataka Sato, Masato Yamanaka, Ing-Chian Sun, Jirapong Sriwat, Taro Hirosawa, Kaoru Tatsumi, Taeko Suzuki, and Apinya Sarntikasem.
Additionally, Luky Walalangi, managing partner of Indonesia’s Walalangi & Partners, Wan May Leong, managing partner of Malaysia’s WM Leong & Co, and Melissa Tan, director of Singapore’s Bayfront Law, provided support.
