• Kyodo

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Panasonic Corp. will sell its chip business to Taiwan’s Nuvoton Technology Corp. as it steps up efforts to pull out of loss-making operations and focus more on growth areas, the firm announced Thursday.

The electronics manufacturer will sell its shares in Panasonic Semiconductor Solutions Co., based in Kyoto Prefecture, and TowerJazz Panasonic Semiconductor Co., a Toyama Prefecture-based joint venture it set up with Israeli firm Tower Semiconductor Ltd., Panasonic Corp. confirmed.

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