00:00It used to be Japanese companies didn't spin off any operations.
00:04Last year, only the half, six months last year, we had 280 carve-outs, spin-offs.
00:11So, you know, that means that they are quite serious to, the seller side is quite serious to reorganize their
00:17business portfolio.
00:19But at the same time, they are realistic enough that they recognize that they are not a good owner.
00:26I think that's a good sign.
00:28One of those carve-outs came in 2024, when Panasonic Holdings sold a majority interest in Panasonic Automotive Systems to
00:36Apollo Global Management.
00:38Shares of Panasonic Holdings have been on a tear ever since, up more than 70% since the deal was
00:44completed.
00:44It's amazing.
00:46Masashi Nagayasu is CEO of Panasonic Automotive, now focused on the transition from automobiles as driving experience to a mobility
00:55experience,
00:55something he calls joy in motion.
00:59The value of the car is shifting from driving performance into the mobility experience which people are having in the
01:10car space.
01:11But individual person having a different sense of comfort, like temperature as well.
01:20So, we use our technologies and also AI-enhanced technologies to fit to personalization and make individual person make you
01:33more comfortable in the car.
01:34Nagayasu says carve-outs like Panasonic Automotives can bring with them a new focus on a more specific business.
01:42Panasonic is a conglomerate company, and they have diversified business models.
01:48Panasonic is a conglomerate company, and they have decided that the automotive sector is not the focus.
01:55So, on the other hand, partnering with Apollo, we can really 100% commit to automotive sector's field.
02:04So, this is rather positive for us to really stick to that strategy.
02:10Panasonic is a conglomerate company.
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