Panasonic to sell its chipmaking business to Taiwan’s Nuvoton Tech: Nikkei

FILE PHOTO: A man is reflected on Panasonic Corp’s logo at Panasonic Center in Tokyo, Japan, February 2, 2017. REUTERS/Kim Kyung-Hoon/File Photo

(Reuters) – Japan’s Panasonic Corp (6752.T) will sell its loss-making semiconductor business to Taiwan’s Nuvoton Technology, a Nikkei Asian Review reported on Thursday.

Panasonic will also divest three Japanese chipmaking facilities of TowerJazz Panasonic Semiconductor, a joint venture with Israel’s Tower Semiconductor, according to the report. s.nikkei.com/35JxTeT

The ongoing U.S.-China tariff war has impacted chipmakers already grappling with oversupply.

Panasonic did not immediately respond to a Reuters request for comment.

(This story removes extraneous letter in first paragraph)

Reporting by Neha Malara in Bengaluru; Editing by Vinay Dwivedi

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