Panasonic Sells Off / Spins Out Security Business

********* *** **** *** its ******** ******* ******** to * ******* ****** firm, ***** ********* ***** of **********.

*** *** *******, ***** will ****** *** ********* brand, ***** **** **** they **** ******** ********** into *&* *** *** business.

****** **** ****, ***** on ******** **** *** company, ** *******:

• *** *** *** ******** owner **
• **** ********* ******** ********* shall ******
• *** *** *** ******* is ***** **********
• **** ****** ******* ********* to **** ********
• *** **** *** *** company *** **
• **** **** (*** *** Pelco **** ***** ******) says ***** *** ********
• *** ** ******** ** Sony, ***** *** ****** moves

[***************]

Financials **********

******* * ***** **** nor ******* *** *** business *** *********. ** would ****** *** ********* to ** *** (** revenue ** *****) ***** the *********** ********** **** business *** ***** **** the **** *** ***** (race ** *** ******, OEMing *****, ***.).

******* ***** **********, *********'* video ************ ****** ******* is ***** ****** ** the ******** ** ******** globally, ****** ***** **** companies **** ********, ****** and ******* *** *** all *** ******, ** the ****-******* ****** ******* range.

Official *************

***** *** * ******** public *************,*** **** *************** **** *** ******** Polaris.

Deal *********

** ********* *********:

*** *** ******* **** be ****** ****Security ******* ******** ******** of Connected Solutions Company of Panasonic as a main **** and will include the industrial & medical vision compact camera R&D department of its Innovation Center [emphasis added]

**** **** ******* * operations:

• ************ ******* ******** (*********** Surveillance)
• ********-******** ********** (****** *********)
• ******* ******** (********** & Medical ******)

***** *** '******* ******' element ** ********* *** security, ********* **** **** that:

***** *** *********** ************ of ***** *** ********** shared ****** *** ******** Group, *** **** ******** Medical.

***** **** ** ******* differently ****** *** *****:

• ** *****, ******* ********* Japan
• ** ***** *******, ******* the *** *******'* *** internal ***** ****
• *** ***** ***********, ******* existing ********* ******** ***** companies

********, *********'* ***** ******* is ******** ** **** deal**** *** *** *** sale ** ******* ***** ****.

New ***** ******* ******* *****

*** *** ***** ********* ******* *****, * ******* ****** firm **** *********** ** Japanese *********,********* ~** ************** ******** **** ********* like *******, *******, *** Toshiba.

******* **** *** **% of *** *** *******.

Panasonic ********* **% ********

***** ********* ** ******* off *******, ** ** retaining * **% ***** of *** *** *******.

Branding ******

*** *** ******* **** retain *** ********* *****. While ***** ** * reasonable ******* ** *** brand ********** ***** ******* in **** **********, ***** that ********* ***** ***** to **** ** ******* their ******** ******** ** most ** *** ***** plus **** * **% stake, ********* *** ** incentive ** ******** ******** the ***** ** ***** products.

Issues / ******** ******* ****

********* ** * **** company (~$** ******* ****** revenue) *** ********** *** **** ******* flat*** * ****** *** the ******** ******* ******** is ********* **** * fraction ** *** ******* (1% ** ****).

**** ******** ** ******** and ******** ********, *** a *********** **** ** the *****, ********* ***** to*****-**** *** ******* ******** (e.g., ********, **********, ** *******, ***.)

**** ** ****, ** was **** ** **********, with ********* ******* *********:

*****-******* ********** **** ********** to *** ***** *** marketing *****. ***** **** broken ****.... ******* ********* all ***** *** ********* activity ****** ******** *******, placing ********** *********** ** a *********** ****

**** ****** *** ******. Individual ******** ********,***** ******* *** *** in ****(*** ** ******** *** ******* ** Pivot3) *** *********'* ******** camera ********** ******.

****, ******, ********* ******** *** developer *** ***** ****** OEM ************. ***** *** *** was *****, *** **** money ************ *** ****** from****** ***** ********* ********************* ******* ****** ***************. **** ***** **** felt **** *********** *** it ********** *********'* ***** and **** ** ** increasingly ******* **-*******. ** least ** *****, ********* *** ******* OEMing *****.

Outlook *** *** *** *******

********* **** **** ** focus ** ***** ** innovator ** ***** ************ products. ** **** ***, being ***** *** ******* on ** ****** ****.

********* ***** **** **** investment **** ********:

*** *** ************ **** be ****** ******* ** the ******* ******** *****, and ** **** *** investment **** ********.

*********** ****:

**** ** ********** *** value *********** **** ** accelerating ********** ** *&* and ********** *******.

** ********* *** **** out ***** *** ********** thin ****** *** ***** on ********** * **** range ** ******* **** can ******* **** ********, Axis, ******, ***., **** have * ****** ** grow *************.

Poll / ****

Possible ****** ***?

***** *** ******* *** not ************ ******* ** Polaris **** ********, **** did ***** * ******** of ******** ***** **** IPOs **** *** ***-****:

◆ ******: A former subsidiary of Toshiba, which provides Route Search Services. Polaris supported the company to become independent. It emerged from a mentality of conglomerate‘s subsidiary and redefined its position. In March 2011, successfully listed on “Mothers” of Tokyo Stock Exchange after 4.5 years.

◆ ** ********: Former LCD panel manufacturing equipment business division of Hitachi. Polaris has been supporting the establishment of an independent company structure and the implementation of growth strategies in global markets since 2016. It is now preparing for the IPO.

** **** *** ******* at **** ****-*** / turn-around, * ***** ****** company **** ***** ** sensible.

Pelco *** **** **** ****** *** ********

** * *** **** period, *** ** *** biggest ***** ************ ******* of *** ***** **** been *********** **** ***. The ********* **** ************'* **** ** ******* private ****** ****.

** *********** **** ************ / *****-******* *** ********* poorly. *** ***-********** ***** surveillance ********* ** *** last ****** **** ************** been ******* ** ***** surveillance, *** *****-******* *** machines **** **** ** IP ******* **** ** phones.

***, **** * *** era ** ** *** cloud-driven ***** ************ ******** starting, ** *** ********* that **** ************* **** be **** ** ***** the ***** *** ********** that ******* *********** *** provide.

Canon, ****, *** ********* ***********

**** *** ********* **** historically **** *** ** the ******* ******* ** video ************. ***, **** Japanese ****-********* *** *** of *** ***** ************ industry (** ***** ********). Panasonic's **** ***** **** than * ***** ********** *** ****'* '******** partnership'**** *** **** ********* transfer ** ***** *** Sony ***** ************ ******** effectively, ** *** ***********, a ***** **** ****** Bosch ********.

** ***** *********'* ******** has **** ****** **** Sony's ** ** ******** for ** ***********, ******* organization **** ******* **********.

****, *********, ** ***** from * ********** ***********, makes ***** *** **** direct ******** ****** ** video ************. *******, ***** has ********* **** ***** its ***** ** ********* its *********. ******, ** was * ***** ***, this *****, ********* ******** ************ ******* *** ******* of ******** * ****-******** of *********, **** *** Briefcam, **** **** ********** continuing ** *** *************.

Hanwha **********

****** ** *** **** case ******** *** ********* here. * ***** ***, when****** ******** ******* ******* video ***************** *** *********** ******** about ****** *** ***** and ******* ****** ***********. While*** ******* ***** *** lost, ****** *** ******** become ******** ** ***** surveillance, ** **** ******** heavily ** *** ******* development *** ******** ***** organization, ********* ********* ********** ************.

** ** * ****** that ********* *** **** to, **, ** *****, hope ** *******.