Sanyo revealed today its plans to sell its disc manufacturer subsidiary Toemi Media Solutions Ltd..
Toemi Media Solutions Ltd is a newly established company (December 2005), mainly owned by Japanese Memory-Tech, a leading OEM of optical disc including CDs and DVDs. The company was previously owned by Toshiba-EMI and was sold to Japanese Memory-Tech last December.
Memory-Tech is Japan's largest independent disc replicator and offers a total service that includes planning, production, and distribution of CDs and DVDs to major Japanese, U.S. and Chinese film/music companies. In addition, Memory-Tech is the company that produced the first HD DVD disc measurement system for mass production line quality assurance in April 2005.
Sanyo also anounced Wednesday it has agreed to sell a 90 percent stake in Sanyo Mavic Media Co., a wholly owned unit making karaoke machines, to karaoke machine seller BMB Co. for 1.35 billion yen.
Both transactions will take place April 21, and are part of Sanyo's business rehabilitation plan, in an effort to avoid falling deeper into the red in fiscal 2006.