Panasonic Holdings Corporation made it known to the public yesterday, Wednesday, May 11, that it intends to spin off its supply chain management or SCM venture via an initial public offering or IPO in the United States.
This plan of the Japanese multinational conglomerate and electronics specialist involves a new firm that will be centered around Blue Yonder, the company’s US-based software-as-a-service or SaaS company.
We are interested in sharing this US stock market-related report with our readers. We believe it can help them stay updated regarding the key developments in America’s financial markets.
According to the news posted online by Asia-focused English-language news magazine Nikkei Asia, Panasonic will make a supply chain specialist and take it public in the United States if the IPO gets consummated.
This agenda includes platform provider Blue Yonder, which has approximately 5,500 employees globally. Panasonic’s management did not disclose an expected market capitalization or an IPO valuation.
Furthermore, this Osaka, Japan-headquartered company did not mention which stock exchange in the United States its SCM business would be listed under.
Panasonic disclosed that the new firm would look to reinvest the proceeds from the IPO if the US stock market listing happens. In this way, the business entity can expand through investments in digital supply chain research and development and mergers and acquisitions.
The new business will consist of Panasonic’s robotics and sensors solutions besides Blue Yonder’s SaaS platform. The consumer electronics giant would keep a majority stake in the new enterprise.
Yuki Kusumi is Panasonic Holdings Corporation’s chief executive officer. He said that supply chain management demands timely management decisions.
Last year, Panasonic acquired Blue Yonder, whose AI-driven technology would be the centerpiece of the Japanese company’s SCM business IPO, for more than US$7 billion.
Nonetheless, it relayed that it would also leverage its Panasonic Connect ventures, including Gemba Solutions Company and the technology research and development unit, among others.
According to the Panasonic management, their ultimate aim is to drive the firm’s vision of delivering the autonomous supply chain to the edge.
We find this report regarding Panasonic as a major US stock market event to look forward to. We understand that this major Japanese conglomerate intends to establish a new firm centered around its United States-based subsidiary Blue Yonder.
Although Panasonic has not made a final decision yet as to a stock market listing and on which United States-based stock exchange the IPO should go forward, we believe such an event will be monumental and a milestone occasion.
We are glad about this news, and we think more consumers globally will benefit from solutions-oriented Panasonic and its latest plans.