OREANDA-NEWS. Panasonic Corporation today announced that its Board of Directors has decided to absorb Panasonic Appliances Motor Expert Co., Ltd. (PAPMRE), a wholly-owned consolidated subsidiary of Panasonic (the "Merger"). The Merger is expected to take effect on January 1, 2015 (planned).

The Merger will be conducted through a simplified absorption-type merger to absorb a wholly-owned subsidiary, accordingly, some of the matters and details for disclosure relating to the merger have been omitted.

Panasonic aims to take the expertise and resource of development, quality control and manufacturing technology of motor business which PARMRE owns, in order to strengthen the Company's related functions for further growth on its motor business.