• Kyodo

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Panasonic Corp. is in talks to sell off three semiconductor plants in Japan to Israeli chip-maker TowerJazz as part of restructuring efforts to jettison slumping operations, sources said Wednesday.

The major electronics maker will spin off the three plants in Toyama and Niigata prefectures into a new company and sell a majority stake to the Israeli firm, which makes chips on contract, the sources said.

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