Panasonic Holdings scrapped its plan to sell 80% of its commercial projector operations to financial services group Orix after the companies failed to agree on the business’s growth prospects and deal terms.
The transaction was originally valued at ¥118.5 billion ($807 million), with Orix set to acquire the majority stake in a newly formed subsidiary, Panasonic Projector & Display. The deal, first announced in July, was scheduled to close in April 2025.
The collapse raises questions about the projector division’s attractiveness to outside investors. While Panasonic had positioned the business as a leader in high-brightness projection with global reach, the inability to finalize terms suggests underlying concerns about future performance in an increasingly competitive market.
Panasonic had spun off the projector operations from its Connect unit in April, creating the dedicated subsidiary as preparation for the transaction. The electronics giant was seeking to divest non-core assets while focusing resources on supply chain software and other business-to-business solutions.
According to industry sources, disagreements centered on growth assumptions and valuation metrics, with the two sides unable to bridge their differences despite months of negotiations.
The projector business will now continue operating independently under Panasonic’s ownership, forcing the company to fund future investments without the financial backing it had expected from Orix.
