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Is consumer electronics giant Matsushita looking to off-load its stake in ailing JVC? The Corporation, which also owns the Panasonic brand, is reportedly looking to sell at least half its stake in JVC to Kenwood.
Matsushita currently has a 52 percent state in JVC but wants to reduce that to around 20 percent. Although reports indicate that JVC president Masahiko Terada has already met with Kenwood president Harou Kawahawa, Matsushita has issued a statement that it has not ‘decided anything in regards to the sale of its state in Victor Company of Japan, Ltd.’ Yet.