ORIX and Panasonic to form a joint venture.

ORIX, a Japanese diversified financial services group, and Panasonic, a multinational electronics company, agreed to form a joint venture. Financial terms were not dislcosed. The related businesses will be carved-out from Panasonic Connect and certain parts of Panasonic Holdings to establish a new company. The new company will be 80% owned by ORIX and 20% by Panasonic Connect, and the two parties will jointly operate the business. Subject to certain closing conditions, the new company is anticipated to start operations on April 1st, 2025.