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Panasonic will close plasma TV assembly factory in Shanghai

Kyodo

Panasonic Corp. will shut down its assembly plant for plasma display panel televisions in Shanghai as part of efforts to streamline its flagging TV business, company officials said Friday.

Panasonic, which plans to end development of plasma display panels for TVs, will liquidate its manufacturing subsidiary Panasonic Plasma Display Shanghai Co. within 2013, they said.

With the closure of the Shanghai factory, the electronics maker’s plant for liquid crystal display TVs in Shandong Province will become its main production base for TV assembly in China.

The Shanghai factory, which opened in 2001, has already stopped operating, they said.

Sony building selloff

Sony Corp. plans to sell its office buildings in Tokyo and New York to improve its financial standing, company sources said Thursday.

Potential buyers for the buildings in Tokyo’s Shinagawa Ward and New York’s Manhattan include an investment fund and a real estate firm, the sources said.

The move is part of its restructuring efforts to improve business performance after incurring a group net loss for the fourth straight year in the business year that ended last March.

The Tokyo building, called Sony City Osaki, houses about 5,000 Sony group employees who work in such areas as liquid crystal display televisions. Sony plans to lease the office building even if it is sold, the sources said.