Murata Manufacturing and Sony Sign Definitive Agreement for the Transfer of Battery Business

Murata Manufacturing Co., Ltd. ("Murata") and Sony Corporation ("Sony") today announced that they have signed a binding definitive agreement to transfer the Sony Group's battery business to the Murata Group ("Transfer"). Murata and Sony had previously announced on July 28, 2016 that they had entered into a non-binding memorandum of understanding regarding the Transfer.

From the perspective of each of their portfolio strategies, and in order to increase the competitiveness and ensure the sustained growth of the battery businesses while also continuing to secure appropriate investment to achieve such competitiveness and sustained growth, Murata and Sony determined that it would be mutually beneficial to transfer the technological strengths and business experience Sony has accumulated in the battery business to Murata, and for the business to be operated within the Murata Group.

Access full press release:
http://www.sony.net/SonyInfo/News/Press/201610/16-1031E/