Business / Corporate

Sony to complete sale of battery business to Murata in September

Kyodo

Sony Corp. said Wednesday it will complete the sale of its battery business to electronic parts maker Murata Manufacturing Co. on Sept. 1, having obtained the necessary approval from antitrust regulators.

The deal values the battery business at roughly ¥17.5 billion ($156 million). It has been postponed several times from its originally scheduled closing date at the end of March due to prolonged antitrust probes overseas.

Both companies said they are examining the impact of the deal on their earnings for the current fiscal year through next March.

The Kyoto-based Murata will take over two domestic factories producing lithium-ion batteries for smartphones and digital cameras, as well as factories in China and Singapore.

Murata will also take on around 8,500 employees working in Japan and abroad in the battery business.